Concerns over cyber risks grow, says Zurich

More than three in four (76%) organisations say they have become more concerned about information security and privacy over the past three years - but only 19% have purchased insurance designed to cover these exposures, according to new research commissioned by Zurich.

The provider noted that only 16% of companies surveyed had designated a chief information security officer to oversee cyber risk and fewer than half (44%) had increased their budget to tackle the problem.

The findings came in ‘Meeting the Cyber Risk Challenge', a survey by Harvard Business Review Analytic Services of 152 respondents across Europe involved in risk management.

Respondents rated malware and other viruses as the most serious information security concern for their organisation.

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