Cyber Risk Management Response And Recovery

Global governance insights on emerging risks

The annual economic cost of cyber-crime is estimated at US$1.5 trillion, yet only an estimated 15% of that loss is currently covered by insurance.

Given these staggering economic losses, and the increasing frequency with which attacks occur, it’s no surprise that cyber insurance is increasingly being recognized as a critical tool to enhance cyber resilience. The Organisation of Economic Co-operation and Development (OECD) and other policymakers around the world are recommending actions to stimulate cyber insurance adoption.

Yet cyber insurance has relatively low take-up rates as many directors and management teams are unsure how to assess its value, or what role insurance should play in their organizations’ larger risk management frameworks.

In the event of a debilitating attack, cyber insurance and associated services can limit an organizations’ financial losses and help accelerate its recovery. This report from Marsh & McLennan’s Global Risk Center and WomenCorporateDirectors outlines everything directors need to know to position cyber insurance within a comprehensive risk management framework.

Cyber Risk Management Response And Recovery