The threat of cyber attacks worries insurance corporate executives more than anything else.
American International Group, Inc., (AIG) conducted a survey wherein they polled 323 risk managers, IT decision makers, C-suite executives and brokers in the U.S. and Canada who are involved in the insurance industry in some capacity.
The survey found that 85 percent of those polled said that they were ‘somewhat’ concerned about cyber risks to their organizations. Interestingly, in the current environment of diminished returns and slow growth, executives were more concerned with cyber threats than income loss, property damage and securities and investment risk.
Cyber threats have played the role of the intangible bogeyman of late. And as our understanding of them becomes more and more astute, they loom closer, albeit still draped in a cloak in order to serve their purpose; to keep their mechanics enough of a mystery so that the apprehension and worry that accompany the possibility of a threat play just as destructive of a role as the threat itself.