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

Rhea-AI Summary

Willis (NASDAQ:WTW) has released its Cyber Directors' and Officers' Survey Report, revealing data loss and cyber-attacks as top risks for directors and officers. The survey showed significant shifts in cybersecurity governance, with monthly board updates increasing from 18% to 28% between 2024-2025.

Key findings include: 80% of respondents have implemented cyber incident response plans, 65% feel well-prepared for cyber incidents (up from 56%), and 56% expect increased cyber security budgets in 2025. Additionally, 53% of respondents have cyber insurance, with 18% planning to purchase it within two years.

Positive

• Monthly board updates on cybersecurity increased from 18% to 28%
• 80% of respondents have implemented cyber incident response plans
• Preparedness for cyber incidents improved to 65% from 56% in 2024
• 56% of organizations plan to increase cyber security budgets in 2025
• 53% have cyber insurance with 18% planning to purchase within two years

Negative

• Cyber security budget growth slowing compared to 2024 (56% vs 63%)
• 12% of companies still only update their board after cyber incidents occur

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 2024-2025
• Sponsorship 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 effectively
• Incident 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 months
• Preparation: 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

FAQ

What are the top risks identified in WTW's 2025 Cyber Directors' and Officers' Survey?

The survey identified data loss and cyber-attacks as two of the top three risks to directors and officers, with Great Britain specifically ranking cyber-attacks as their top concern.

How has cybersecurity board reporting changed according to WTW's 2025 survey?

Monthly board updates on cybersecurity increased from 18% to 28%, while companies updating boards only after incidents decreased from 20% to 12%.

What percentage of companies in WTW's survey have cyber incident response plans?

80% of respondents have implemented cyber incident response plans, with more than two-thirds completing an incident response exercise in the past 12 months.

How many companies surveyed by WTW have cyber insurance coverage in 2025?

53% of respondents currently have cyber insurance coverage, and an additional 18% plan to purchase it within the next two years.

What is the trend in cyber security budgets according to WTW's 2025 survey?

56% of respondents indicate cyber security budgets will increase in 2025, though this represents a decrease from 63% in 2024.