The US-based Risk and Insurance Management Society (RIMS) has held its first Cyber Survey, in a bid to share knowledge and experience of the growing threat.

Of the 284 society members consulted, 51% say they have standalone cyber-insurance policies.

About 58% of those with cyber policies have less than $US20 million ($26 million) coverage, while 74% of those without cover are considering getting it in the next two years.

The top three first-party exposures reported are reputational harm (79%), business interruption (78%) and data breach response and notification (73%).

About 77% of respondents credit enterprise risk management with identifying cyber risks.

“Every day risk professionals are confronted by new cyber attacks and forced to take immediate action to protect their organisations before it is too late,” RIMS President Rick Roberts said.

“The key to successfully mitigating the impact of a cyber-breach – or even preventing one in the first place – is knowledge.

“The RIMS Cyber Survey offers the global risk management community valuable insight, showing how organisations are trying to stay ahead of this top concern.”