Articles - AIG survey highlights concerns over cyber risk

 A survey of perceptions about cyber risk sponsored by the American International Group(AIG) found that among corporate executives, more are concerned about cyber threats than about other major business risks.

 More than 85% of the 258 decision-makers surveyed said they were very or somewhat concerned about cyber risks to their organisations, compared with the group’s response to six other areas of risk, including income loss(82% of executives were very or somewhat concerned), property damage(80%), and securities and investment risk(76%).

 Additional survey results, which include input from insurance brokers, found high demand among executives and brokers for information about cyber threats, with 80% indicating that they find it difficult to keep pace because the cyber threat is evolving so rapidly. This prompted AIG to develop the first-ever mobile app for cyber risk management and to introduce other tools to further strengthen its CyberEdge risk management solution.