Cyber risks constitute a tangible threat to the corporate balance sheets and the future economic development of the digital medium-sized companies are: two-thirds (66 %) of the digital company say they need in the event of a cyber incident interrupting the ongoing operation. A lengthy stoppage would mean for 66 % of company sales declines. Almost three-quarters (73 %) of the surveyed digital company would in the case of a hacker attack or data loss suffer from loss of reputation and more than half (55 %) expects for this case in order to lose customers.
And the danger is real: Every fourth digital companies (25 %) already had to cope with at least one cyber damage in the past. 72 % of these losses were caused by hacking, 36 % were secondary technical failures and 14 % due to the loss of mobile devices or theft of hardware.
Rapid development calls for quick solutions
Robert Dietrich, General Representative of Hiscox, says: "The Digital Economy is developing at a breathtaking pace, revealing the foundations for the future of the global economy. The problem of an existential threat to the Digital Industry by cyber threats urgently demands a solution: Who can such help the digital economy? To answer this question, we jointly investigated by Forsa, such as digital entrants already protect themselves, where their IT security has gaps and by whom the economy hopes help. "
Digital companies rely on technical means to - and neglecting other protection mechanisms
The result: a clear focus is the Digital Economy in the IT security on technological protection measures. Further security mechanisms are, however, neglected. Judith Light, deputy director of the Political and Social Research at Forsa, summarizes the results for the existing protection: "The highest values we measured in technical security measures: 99 %, so almost all the respondents use a firewall and a virus scanner, 96 % of a systematic Backup system, 88 % encrypt customer data. Significantly lower the values fell, however, in non-technical measures: only 43 % of respondents use external consulting company for IT security in claim, 36 % have an insurance protection against cyber risks. 38 % consider before any specific contingency plan for dealing with data loss or hacker attack, or do not know whether there is such a plan for the company. "
The workforce: confidants or risk factor?
As the employees cut off in the risk assessment of the digital player? Whether inadvertently or maliciously: The behavior of the private workforce stands at number two and three of the top risks for companies. When asked which data damage would jeopardize the company's continued existence, call after hacker attacks (67 %), most respondents to the specific disclosure of secrets and data theft by employees, as well as inadvertent disclosure of sensitive data to third parties (each 56 %). Robert Dietrich says: "Despite the risks posed by employees - in the area of cyber security, the trust relationship with their own workforce is unbroken. Proud 88 % of digital companies assess the contribution of their own employees for IT security as good or very good. "
Digital Economy: Policies insufficient in cyber security
The policy is viewed critically by the Digital midmarket: A lack of political arrangements threaten in the eyes of more than half (58 %) of the digital economy in the global market. More than three quarters (76 %) of all respondents reviewing the policy contribution to increasing data security as a whole and less good or bad. In the eyes of the Digital Economy, the digital world is obviously still uncharted territory for large parts of the policy. This explains any case the alienation of the Digital Economy and Policy: 87 % demand of the representatives of the people to acquire more knowledge and understanding in the field of IT security.
Even otherwise mostly unloved government regulations seem to be missing in many places: Almost every second digital companies (48 %) wants more legislative intervention in the field of data security. From many government 72 % also called for to increase the pressure on countries that pose hacker attacks.
Who can help: companies, industry associations, media, politics, insurance companies and IT service providers?
Looking for more effective support in the fight against cyber-risks, the study asked the significance of different players from a business perspective from: 96 % of the digital market participants, companies see themselves more strongly or very strongly in the duty to strengthen the IT security. But the economy also takes hardware and software manufacturers (92 %) and service providers and consultants (85 %) in prayer. 66 % require the media to educate about cyber risks and also about two-thirds of respondents (68 %) rely on information and education through industry associations. The state infrastructure (61 %) and legislation (57 %) are also taken by the majority of respondents in responsibility. Over a quarter (27 %) emphasized the contribution of insurance.
Together for more IT security
In summary, the study draws a clear picture: The Digital Economy feels threatened by cyber-threats. However, the own IT security is not always able to tackle the risks effectively. Robert Dietrich concludes: "The digital economy clearly says: Only the interplay of all actors, the IT security can be effectively improved. Companies, industry associations, policy, insurance companies and IT service providers have come to the table and together to improve IT security. Just as the digital competitiveness can be maintained and strengthened. "
Asked Simple Insurance Solutions
An important component in the digital risk management is insurance against digital risks. The study provides answers to the question why only 36 % of digital companies to protect themselves with a digital risks comprehensive Policy: 94 % want a simple policy conditions with less fine print, 82 % call for appropriate and customized solutions, and more than half (51 %) want an uncomplicated insurance statements on the Internet.
Hiscox brought already in February 2011 as the first provider a cyber insurance on the global market: Cyber Risk Management by Hiscox. Whether online or through brokers characterized the Cyber-Police through simplified insurance terms and conditions, exclusions and less a medium-sized companies only seven questions comprehensive application model.
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