Author: Judith Ugwumadu / Source: Insurance Age
Lockton report shows half of UK businesses expect to be entirely operational 48 hours after a large-scale cyber security breach.
A report by Lockton has revealed that UK businesses are severely “unprepared for a cyber shock”.
The broker found – in the study that polled 200 chief financial officers, chief risk officers and chief information officers as well as directors of risk and general legal counsel – that 50% expect to be entirely operational 48 hours after a large-scale cyber security breach.
Just 2% of UK businesses think a breach will affect them for more than 10 days.
Peter Erceg, senior vice president of global cyber & technology at Lockton, said: “The fact that so few businesses are aware of the aftershocks caused by a cyber attack is concerning.
“It can take several months, if not years, to become entirely operational again after a large-scale breach – and for some firms a full recovery may be bridge too far. UK businesses are currently unprepared for the seismic waves that can decimate an organisation caught…
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