ORGANISATIONS INVEST IN CYBER SECURITY BECAUSE IT MAKES GOOD RISK MANAGEMENT SENSE

Forty-six percent of respondents in this week’s Airmic Big Question said their organisations are driven to invest in cyber security as part of their risk management process.

Julia Graham, CEO of Airmic, said: “The findings indicate that risk professionals and their organisations are proactive in addressing cyber security, rather than just ticking the boxes because of legal and regulatory compliance. Organisations can leverage cyber security to help add value and protect their reputation by building trust with their customers, through anticipating breaches and protecting data.”

The survey findings follow the launch on 8 April of the UK’s new Cyber Governance Code of Practice by the Department for Science, Innovation and Technology (DSIT), which is voluntary, and which Airmic is helping to promote among industry stakeholders.

Hoe-Yeong Loke, Head of Research at Airmic, said: “One key impetus behind DSIT’s introduction of the code was feedback from industry surveys calling for solutions to illustrate ‘what good looks like’ in cyber governance. The code brings together the critical governance areas that board directors need to take ownership of in one place, in a simple format that they can easily engage with.”

According to DSIT, governing cyber risk requires strong engagement and action at a leadership level, given how cyber incidents can disrupt business continuity and reduce an organisation’s competitiveness – besides damaging customer trust.

Leigh-Anne Slade, Head of Media, Communications and Interest Groups, said: “In convening our members and industry stakeholders, Airmic is helping to share good practice in cyber security through platforms such as our special interest group meetings. In helping risk professionals keep up with the trends and latest threats in cyber security, we are encouraging a more proactive approach to investing in cyber security and being fit to respond effectively if a crisis does occur.”

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We will be sharing the results of the Airmic Big Question with the press weekly.

You can also find the results here.

Media contact: Leigh Anne Slade
Head of Media, Communications and Interest Groups, Airmic
Leigh-Anne.Slade@Airmic.com
07956 41 78 77