New Willis survey highlights changing global trends in cyber risk strategy for directors and officers

July 03, 2025 04:00 ET | Source: Willis Towers Watson US LLC LONDON, July 03, 2025 (GLOBE NEWSWIRE) -- Data loss and cyber-attacks were identified as two of the top three risks to directors and officers, according to the latest Cyber Directors’ and Officers’ Survey Report by Willis, a WTW business, (NASDAQ:WTW). The survey gathered responses from a range of sectors, including the services sector (24%) and finance and insurance (19%), with more than half representing for-profit, private companies. Among those surveyed, Great Britain was the only region to identify cyber-attacks (excluding cyber extortion) as the top risk. In contrast, respondents from North America and the Middle East ranked data loss as their primary concern. Despite growing awareness of cyber-attacks and recent high-profile incidents, the risk ranking for cyber-attacks reduced by 2% between 2024 and 2025. The remainder of the survey explores potential reasons behind this change. Key points are as follows: Frequency of cybersecurity updates: The survey found that the frequency of updates to boards on cyber security shifted. Last year, the survey illustrated that 20% of respondents only updated their board in response to an incident, which has decreased to 12% in 2025. The number of respondents who update their board on cyber security monthly increased from 18% to 28% between 2024-2025Sponsorship trends: Respondents indicated an increased involvement from an officer outside of senior leadership, which suggested a need to engage both strategic and technical stakeholders to manage cyber risk most effectivelyIncident response: 80% of respondents indicated that they have put a cyber incident response in place, with more than two thirds indicating that they have completed an incident response exercise in the past 12 monthsPreparation: 65% of respondents feel they are well prepared to manage a cyber incident effectively (compared with 56% in 2024)Cyber risk strategy budget: Respondents indicated that cyber security budgets will continue to increase in 2025 but to a lesser extent than 2024 (56% versus 63% respectively)Cyber insurance: Cybersecurity risks were ranked as the most important aspect of directors’ and officers’ liability insurance coverage. More than half of respondents (53%) indicated that they have cyber insurance in place, with a further 18% planning to purchase it in the next two years. Adrian Ruiz, head of FINEX GB Cyber & TMT, WTW, said: "Building a strong cyber security culture that engages all levels of the organisation is critical to managing today’s evolving threats. From investing wisely in training and technology to regularly testing response plans, businesses must take a proactive, strategic approach to cyber risk. The survey highlights the importance of staying informed and adapting in an increasingly complex digital landscape." The report can be downloaded here. About the survey: The survey provides a global view of the perceptions of risk among directors, officers, and risk managers from countries around the world. Once again, this year’s survey provides insights into the distribution of companies by type, revenue and industry. For-profit, private companies are the most represented, accounting for 56% of the respondents, followed by for-profit, listed companies at 32%. In terms of revenue, 33% of the companies have revenues between $0 and $50 million, another 33% have revenues between $50 million and $1 billion. The services industry makes up the largest proportion of respondents followed by transportation and retail and finance and insurance. About WTW At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com. Media contact Lauren David: Lauren.david@wtwco.com / +44 7385947619 Haggie Partners WTW@haggiepartners.com / + 44 20 7562 4444

New Willis survey highlights changing global trends in cyber risk strategy for directors and officers

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