12 October 2011

Industry underestimating risk of cybercrime

Survey results show infosecurity is a low concern, but industry expert says otherwise
Only 42% of chief risk officers are concerned about electronic communications risk and information security, according to a survey carried out by insurer Zurich and the Harvard Business Review. The survey of 1,400 chief risk officers ranked information security last out of a list of 10 significant risks. 

However, Tom Richardson, head of customer relationship management at Zurich Global Corporate UK, told the Federation of European Risk Management Associations (Ferma) forum in Stockholm today that there had been a noticeable change of awareness when it comes to cyber-terrorism.

"If you talk to people now about what they're worried about, it's not the security of the data or compensation they're concerned about, it's the reputational risk," he said

Read more: http://www.risk.net/operational-risk-and-regulation/news/2114890/industry-underestimating-risk-cybercrime-forum-hears#ixzz1aa3O82ul
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