When it comes to cyber risk, businesses are missing the human touch. A leading global advisory, broking and solutions company, recently urged businesses to focus more on employees and company culture in efforts to manage cyber risk.
Willis Towers Watson warned that many organisations continue to focus on the technology aspect of cyber defence, which is crucial, but often at the expense of people risks, which represent the largest source of data breach claims.
In fact, the company’s claim data show that employee negligence or malicious acts account for two-thirds (66%) of cyber breaches, only 18% were directly driven by an external threat, and cyber extortion accounted for just 2%.
The data shows that approximately 90% of all cyber claims are the result of some type of human error or behaviour.
“Evidence suggests that many businesses are taking an overly technocratic approach to cyber risk and are in danger of missing the bigger picture,” said Anthony Dagostino, head of global Cyber Risk at Willis Towers Watson. “The simple truth is that a data compromise is more likely to come from an employee leaving a laptop on the train than from a malicious criminal hack. We believe employees and companies with a strong culture and cyber aware workforce are the first line of defence against cyber risk.”
Source: Willis Towers Watson