Cyber attack is a top concern for businesses in 2013, with85 percent of corporate executives naming it their greatest risk,trumping loss of income (82 percent) and property damage (80percent), according to a recent AIG survey.
Of 258 executives polled by market research firm Penn SchoenBerland for the study, three-quarters say legal compliance issuesare making their organizations think more about cyber risks.
The majority (80 percent) of executives and brokers say theyfind it difficult to keep pace with information regarding cyberthreats. However, the Insurance Information Institute (I.I.I.)points to a Zurich study stating less than 20 percent of companiespurchase cyber insurance to protect themselves against thisincreasingly common cause of loss.
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