Cyber Security Insights Report 2022
The S-RM Cyber Security Insights Report 2022 reveals the challenges faced by C-suite professionals and senior IT leaders across three main areas of cyber security – budgets, incidents and insurance.
In 2022 we surveyed 600 C-suite and IT budget holders from organisations with a revenue over USD 500m about their experiences of cyber incidents, how their cyber security budgets were holding up in the face of rising inflation - and new for 2022 - in the context of a well-publicised hard market, we asked, is cyber insurance still worth the cost?
This year’s survey follows on from our 2021 research, enabling us to analyse the year-on-year changes and draw out valuable trends from the past 12 months in global corporate cyber security. We saw how the number of serious cyber incidents was continuing rise and that while cyber budgets had risen, their weren't as high as predicted in 2021.
Finally, through our experience in responding to cyber incidents, alongside our work with insurance underwriters, the report also shares valuable advice on the steps businesses can take today to minimise the impact of a cyber incident tomorrow.
15% increase in serious cyber incidents within the past three years
5.2% year-on-year growth in cyber budgets
42.1% increase in cyber insurance premium since last renewal
This year we learnt that while cyber budgets grew in 2022, the growth was much slower than predicted in 2021. And we saw the importance of cyber insurance with 97% of organisations surveyed holding a cyber insurance policy. But the hard insurance market is in evidence too, premiums had risen on average by 42% since last renewal.
Discover more key findings in our short video animation.