The threat of cyber attacks has become a top concern amonginsurance corporate executives, a new survey reveals.
|American International Group conducted a survey of 323 riskmanagers, IT decision makers, C-suite executives and brokers in theU.S. and Canada who are involved in the insurance industry in somecapacity.
|The survey found that, of the 258 corporate executives polled,85% said that they were “very or somewhat” concerned about cyberrisks to their organizations. Interestingly, in the currentenvironment of diminished returns and slow growth, executives weremore concerned with cyber threats than income loss, property damageand securities and investment risk.
|Other findings in the survey found that 82% of brokers andexecutives feel that hackers are the primary source of cyberthreats, although 71% admitted that human error could also be acontributing cause.
|Survey participants report that the financial repercussions ofcyber attacks were not as detrimental as the reputational risk and75% of executives and brokers said legal compliance issues areforcing companies to pay closer attention to the potential threat,AIG said.
|This article was originally posted at LifeHealthPro.com, a sister site ofCredit Union Times.
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