PHILADELPHIA, April 5, 2018 /PRNewswire/ -- NetDiligence®, a leading provider of cyber risk readiness and response services, announced today it has published Spotlight Healthcare, data-driven analysis of cyber risk insurance claims in the healthcare sector, as an addendum to the company's 2017 Cyber Claims Study.
54% of European CEOs are taking responsibility for cyber-security
More than half (54%) of CEOs in European companies are taking responsibility for cyber-security as it is now considered to be an executive responsibility.
New research from Lloyds of London discovered that although cyber is now at the top of the boardroom agenda, many still underestimate the potential impact of a cyber-attack or data breach.
Only 13 percent of European companies believing they will lose trade if a cyber-attack occurs, despite recent high-profile data breaches.
The survey collected responses from nearly 350 senior business decision makers from across Europe, which included 100 from UK businesses.
"New Europe-wide regulations will mean that businesses have to be more responsive to any cyber-incident than may have been the case in the past. Insurance companies provide more than just cover for any lost income, they offer a wraparound service that can keep businesses on the right side of regulation and help protect their customers and their reputation," said Inga Beale, Lloyd's chief executive.
Whilst 92 percent of businesses suffered a cyber-security breach in the past five years, only 42 percent are concerned that another breach will happen in the future.
In Britain, 97 percent of businesses have experienced a breach in the past five years yet only 53 percent are concerned that their company will suffer another breach in the future.
Despite the General Data Protection Regulation (GDPR) coming into effect in under two years, 57 percent of business leaders admitted they do not fully understand the potential implications of the GDPR on their company.
Awareness of the implications the GDPR could have on a business would include regulatory investigation (64 percent), financial penalties (58 percent), impact on share price (57 percent) and reputation (52 percent).
Dearing continued: "The number and severity of data breaches is definitely increasing every day, and as critical infrastructure continues to move online, businesses are becoming increasingly vulnerable to cyber-threats. It's no secret that organisations are fighting a growing enemy - barely a week goes by without news of another major brand being breached by ever-determined and well-equipped cyber-criminals. Despite our best defences, hackers are not just getting through, they are staying undetected on corporate networks for longer. To combat this, organisations and security vendors must ditch the complacency and instead fight smarter, in a more joined up way to identify, isolate and eliminate cyber-threats faster."
Adoption of the new General Data Protection Regulation (GDPR) is motivating organizations worldwide to improve existing technical controls for securing personal information. Organizations should be especially aware that the GDPR and other recent legal developments amplify the negative repercussions of a data security breach - meaning organizations...
1. Prepare a data map, which is a report on what personal data the company processes throughout its organization, where that data flows throughout the organization, where it is stored, who within the organization is responsible for it, what it is used for, and with whom is it shared. This includes both personal data of the company's employees...
According to "The Global 2017 SAP Hybris Consumer Insights Report," a survey sponsored by SAP SE (NYSE: SAP), online brands must respect consumers' data privacy if they want to build strong U.S. customer relationships. They must also offer discounts and respond to queries within 24 hours. The survey of 1,000 U.S. respondents uncovered how consumers...