Skip Ribbon Commands
Skip to main content
symbol

RIMS


RIMS Releases Cyber Survey 2015 6/8/2015

 

74% OF RISK PROFESSIONALS WITHOUT COVERAGE ARE CONSIDERING PURCHASING CYBER INSURANCE WITHIN TWO YEARS
 
ERM Tops List as Best Practice for Identifying Cyber Threats
 
(NEW YORK) June 8, 2015 – Due to the tremendous publicity and new information regarding the impact of a cyber-attack, organizations have placed greater emphasis on developing risk management strategies to proactively address these exposures. RIMS, the risk management society ™, conducted its first Cyber Survey 2015 to explore strategies implemented by risk professionals including insurance investments, exposures, cyber security ownership, government involvement, as well as identification methods and response procedures.
 
Key findings from RIMS Cyber Survey 2015 include:
  • 51% of respondents purchase stand-alone cyber insurance policies
  • 58% of those with cyber insurance policies carry less than $20M in cyber coverage, while 49% of those are paying over $100k in premium
  • 74% of those without cyber coverage are considering procuring coverage in the next 12-24 months
  • 77% of respondents credit Enterprise Risk Management for identifying cyber risk
  • The top three first party exposures reported are:
                 o    Reputational harm (79%)
                 o    Business interruption (78%)
                 o    Data breach response and notification (73%)

“It seems like every day risk professionals are confronted by new cyber-attacks and forced to take immediate action to protect their organizations before it is too late,” said RIMS President Rick Roberts.  “The key to successfully mitigating the impact of a cyber-breach – or even preventing one in the first place – is knowledge. RIMS Cyber Survey offers the global risk management community valuable insight, showing how organizations are trying to stay ahead of this top concern.”
 
The survey features input from 284 of RIMS’ Professional Members in the United States. The majority of the survey respondents represented organizations with excess of $1 Billion US in revenue (58%), hailing from a wide-range of industries.
 
The full is survey is available to both RIMS members and non-members in RIMS Risk Knowledge library: www.RIMS.org/Riskknowledge.
 

# # #

About RIMS

As the preeminent organization dedicated to educating, engaging and advocating for the global risk community, RIMS, the risk management society™, is a not-for-profit organization representing more than 3,500 corporate, industrial, service, nonprofit, charitable and government entities throughout the world. RIMS has a membership of approximately 11,000 risk practitioners who are located in more than 60 countries. For more information about the Society’s world-leading risk management content, networking, professional development and certification opportunities, visit www.RIMS.org.

​ ​

For more information, contact:

Josh Salter, RIMS communications manager, (212) 655-6059 or jsalter@RIMS.org

POPULAR TOPICS


RIMS MARKETPLACE

Access the most comprehensive directory of solution providers for risk professionals.

myCOI

myCOI's suite of products provides you with the right solution to simplify the tracking process and minimize your risks of an uninsured claim and costly litigation...

RWH Myers

RWH Myers is committed to helping policyholders through business interruption and property damage claims, efficiently and accurately...

Navigant

Navigant represents policyholders in the analysis of losses and preparation of complex insurance claims...