Cyber risk perceptions survey findings

Undoubtedly, the cyber insurance market landscape has dramatically evolved over the past several years from a rate, coverage, and underwriting due diligence perspective. High profile and devastating cyber incidents are leading to an increase in both the frequency and severity of claims experience.

Between 2020 and 2021, Marsh McLennan Agency (MMA) surveyed business owners on their perceptions of cyber risk as it relates to their specific organizations and the cyber insurance marketplace in general. These business owners encompassed a wide spectrum of industries, but were primarily from organizations that are generally middle-market in size. The results reflect a cyber landscape that is increasingly becoming the primary area of focus for many organizations. It is more critical than ever to not only approach cyber risk from a strategic and holistic perspective, but to also partner with organizations that can minimize overall risk and help effectively navigate through potentially disastrous cyber incidents.  In this report, we’ll look at the themes which emerged out of these survey responses, and provide several specific data points which illustrate these findings.

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