More than half of Fortune 500 firms disclosing cyber risk vulnerability believe their firms would be seriously harmed by a cyber attack, but many are still unprepared for one, shows a Willis North America study.
The top three cyber risks identified by the study group are theft of confidential information (65%), loss of reputation (50%) and direct loss from malicious acts by hackers and viruses (48%).
The Securities and Exchange Committee guidelines say cyber risk insurance is an appropriate consideration; however, only 6% of those surveyed buy it.
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