According to Aon Risk Services, over a third of risk professionals in Europe, the Middle East and Africa (EMEA) have experienced a “material or significantly disruptive loss relating to a data breach or security exploit in the past 24 months.”
The most common cyber incident in these regions resulted in disruption to business and IT operations and cost an average of $1.1 million, according to research done by Aon in partnership with The Ponemon Institute. Bill Peck, chief commercial officer for Aon EMEA, said, “Aon wanted to understand how organisations qualify and quantify the impact of cyber-related assets. This survey is unique as it focused on the relative financial statement impact of cyber incidents compared to tangible asset vulnerabilities. In today’s technology-driven environment, enterprise risk management issues are rapidly growing with the increased use of information assets and technology and present an ever-increasing exposure to business.”