A new survey finds that a large number of European companies haven't planned for cyberattacks, which may shed some light on why so many are getting hacked.
Just one-quarter of companies surveyed said they have a "clear understanding" of their "exposure to cyberrisk," according to the European Cyber Risk Survey released this month by insurance company Marsh, which collected the data "from risk professionals from large and medium-size corporations from across the continent."
"Organizations across Europe are growing increasingly concerned about the likelihood and impact of cyberattacks," the report states, but they aren't sure what to do about it. Just 36 percent of respondents said they have a response planned for the event of an attack, while 22 percent said they had no plan and 17 percent had no idea. The remainder reported having "partial" plans.
Sally Roberts, director of media relations for Marsh in the U.S., said the survey included 706 participants, mainly risk managers, across Europe.
The figures could explain why companies suffer from so many many high-profile breaches, one of which was referenced by the report. The U.S.-based Target, the report notes, had its systems penetrated in 2013 when hackers managed to obtain credentials from a third-party HVAC contractor that had an IT link with the company.
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