Why Cyber Resilience and Cyber Security Matter
Cyber attacks and data breaches rank as the top global threat companies face – and this is expected to continue through 2024 1. Indeed, as cyber attacks and data breaches become more frequent, and their scope and scale more targeted, sophisticated, and costly – with global ransomware costs predicted to reach $20 billion in 2022 2 – there are real implications to an organization's operations, as well as reputation.
Whether a company wants to better understand third-party risks stemming from complex and more digitally connected supply chains or build operational resilience in the face of sophisticated cyber threats, building an enterprise-wide approach is critical.
Strategically Mitigate Cyber Risks
As cyber threats mount, business leaders are also under pressure to maximize return on security investment (ROSI) in a complex business environment where risks are increasingly interconnected. While cyber resilience remains an important board-level issue, a holistic and integrated approach requires cross-functional teams to come together to manage cyber security risk through assessments, mitigation, transfer, and recovery – helping an organization protect its assets and be better positioned in the event of an incident.
Various stakeholder engagement is critical to make better decisions that help protect the balance sheet, minimize volatility and recover both operationally and financially when breaches occur.
Explore our insights across a range of topics that help organizations make better cyber decisions:
As organizations navigate the rapid digital evolution, only 17% have adequate security measures in place.
Source:
Aon’s Cyber Loop: A Model for Sustained Cyber Resilience
The C-suite, including chief executive officers, chief financial officers, chief people officers, now rank cyber attacks/data breaches among their top 10 risks. In 2024, cyber risk/data breaches is projected to remain the top global risk.
Source:
Aon’s Global Risk Management Survey
Cyber risk is a cross-functional responsibility. The Chief Information Officer and/or Chief Information Security Officer should work with business unit leaders to manage cyber risk.
Source:
2022 Intangible Assets Financial Statement Impact Comparison
1 Aon's latest Global Risk Management Survey
2 Ponemon Institute Cost of Data Breach Report
