In a recent survey by Aon concerning global risk management, cyber security threats have entered the top ten risks to global organisations for the first time, coming in at ninth place. This reflects the increasing importance with which global organisations regard cyber risk.
Damage to brand and reputation was the number one concern identified by Aon’s global client base, further highlighting the emergence of cyber risk as a key risk factor since it has been repeatedly linked to these issues following data breaches. Chief Innovation Officer, Stephen Cross, at Aon Risk Solutions stated “it’s little surprise to see cyber risk enter the top 10 at the same time we are seeing increasing concern about corporate reputation as the two issues are a great example of the interconnectivity of risk”.
Other risks found in the top ten include regulatory changes, business interruption, property damage and failure to innovate.