In Portugal 23% of companies were the target of an attack … – LOCAL.PT

The Marsh conducted a European study that had as main objective to realize the level of knowledge of the companies in relation to cyber risks and what their reactions as well as ongoing processes to respond to this threat. The results, presented today at the Sheraton Hotel in Lisbon, revealed very interesting findings.

According to this study, 79% of European companies have, at best, a basic understanding of their risk exposure cyber and a total of 68% have never calculated the financial impact that a cyberattack could cause your company.

The world’s leading insurance brokerage and risk management found that businesses across Europe are undervalued cyber risks they suffer daily. The study reveals that European businesses and in particular the Portuguese do not have a structure prepared to deal with a possible cyber attack. 23% of Portuguese companies, which responded to the study, admitted to having been the target of a cyber attack in the past 12 months, and 57% identified cyber risk in the top of the corporate risks.

In Portugal, 29 % of companies highlighted as a major threat, a cyber loss scenario, the Business Interruption. They considered although three of the greatest threats may come from: Hackers (39%), Internal Threat (30%) and operating errors (27%). More than half of the companies have identified one or more scenarios of cyber attacks that your company could be the target, however 74% did not estimate the financial impact that this threat would and 87% said they did not have any plans to endorse a cyber insurance .

The study also found that 75% of Portuguese companies identifies the IT Department as responsible for reviewing and managing cyber risks. According to Ana Marques, Finpro Business Development of the Marsh, “part of the solution is a shared responsibility, where both the Department of Risk Management, as management play a key role.”

He adds that ” it is imperative that organizations rethink their strategies in terms of risk management, arming itself with sufficient means to respond to a security incident in real time. Regardless of investments in sophisticated solutions and efforts to improve internal controls, the figures reveal that it is not a question of “if” but a matter of “when”. “