2017 Global Cyber Risk Transfer Comparison Report
The 2017 Cyber Risk Transfer Comparison Global Report, released today by the
Ponemon Institute, a leading research firm on privacy, data protection and information security, and sponsored by Aon plc (NYSE:AON), found that organizations now believe that their cyber assets are more valuable than plant, property and equipment assets, even though they are spending four times more budget on insurance protecting the latter risks
Aon’s 2017 Global Risk Management Survey also found that cyber risk is a top concern for most businesses in the U.S. and globally. As a result, many companies are implementing formal assessments to identify and measure their cyber risk. While this risk is being recognized as a significant threat, it is often not properly managed on a relative basis compared to other growing assets and risk. This is having an impact on many companies’ bottom lines.
- Key Findings:
- Organizations valued cyber assets 14 percent more than property, plant and equipment assets
- Quantification of probable maximum loss from cyber assets is 27 percent higher than from property, plant and equipment
- Organizations insure on average 59 percent of plant, property and equipment losses, compared to an average of 15 percent of cyber exposures