The latest research conducted by Ponemon Institute and sponsored by Aon, finds that across EMEA there continues to be a significant difference between the amount of insurance bought for Property Plant and Equipment (PP&E) compared to for information assets, despite companies estimating both the likelihood of a loss and the value of a probable maximum loss as higher for information assets.
New to the 2019 report: The rise in intangible assets
In the 2019 study, we have also examined the cyber threat to intellectual property and how organisations are managing this risk. A better understanding of the relative financial statement impact will assist organisations in allocating resources and determining appropriate risk transfer solutions.
Key findings in the report:
- More than two thirds of companies (67 percent) expect their cyber risk exposure to increase over the next 24 months
- 41 percent reported a material or significantly disruptive cyber security incident or data breach one or more times in the past 24 months, with the average total financial impact of these incidents at $5.5 million
- Businesses think they are more likely to experience a loss in relation to their information assets, than they are in relation to their PP&E. And the value of a probable maximum loss for information assets is higher at an average of just over $1 billion compared to $686 million for PP&E
- Despite this vulnerability, an average of only 18 percent of information assets are insured compared to an average of 59 percent of PP&E assets
- Nearly a third (29 percent) of the survey’s respondents experienced a material Intellectual Property (IP) event involving trade secrets (36 percent), copyright (30 percent) and patents (24 percent)
Managing Director, EMEA
Aon's Intellectual Property Solutions
t +44 (0)20 7086 1426
Chief Commercial Officer, EMEA
Aon's Cyber Solutions
t +44 (0)20 7086 4465