A survey by Mayer Brown shows companies consider the disclosure of PII the biggest cyber related threat.
Survey respondents overwhelmingly considered the disclosure of personally, identifiable information as the biggest cyber-related threat to their companies (63%). Concern about interruption of business operations such as system sabotage ranked second (24%). Less than 10% of the respondents considered theft of trade secrets as the most serious threat. Most respondents (63%) considered cyber issues to be just one more cost of doing business or that these problems can be overcome. Well over half (57%) of the respondents estimated that litigation risk posed by cyber-security issues has a relatively modest impact on their cyber-security planning. For some, pessimism reigns. Around 29% of respondents have a negative outlook on cyber-related issues, believing that cyber-crime will always be one step ahead of legislative protections and enforcement.
Exclusively for Our MSP Partners
Now Available: Gen AI Certification From BSN
Lead Strategic AI Conversations with Confidence
Breach Secure Now’s Generative AI Certification helps MSPs simplify the AI conversation, enabling clients to unlock the value of gen AI for their business, build trust, and drive growth – positioning you as a leader in the AI space.
When the participants were asked if they had cyber insurance only 27% said they had it for liability expenses and 7% for remediation costs.
When asked if they suspected that a cyber-related incident had occurred, 28% said they would contact a law firm first, 21% said they would contact a consulting firm with cyber-security advisory, 19% said an IT security company, 13% said law enforcement and 7% said an insurance company.
