June 2020
Wall Street Journal
A survey of corporate technology officers reveals that while many companies are worried about all sorts of threats, they also don’t feel they’re prepared to defend against them…
Still, many small businesses choose not to take on coverage, says James Trainor, senior vice president at Aon’s Cyber Solutions, a unit of insurance provider Aon PLC. “Small businesses often don’t have the resources—financial or personnel—to conduct a robust cyber assessment and risk-quantification process,” he says. But he also was concerned over the 35% of large companies that didn’t already hold cyber insurance, citing the potential for catastrophic losses. “I’m not sure how a board is exercising its fiduciary responsibility to protect its shareholders and the firm from this growing risk without cyber insurance,” he says.
Read the full article here.
