Get instant
small business insurance quotes

Home > Professional Liability/Errors & Omissions Insurance > News

Organizations failing to create RBSM strategies


Many businesses throughout the world claim to have a strong commitment to risk-based security management, but recent research from IT security solutions provider Tripwire and the Ponemon Institute found holes in the deployment of RBSM for many companies.

According to the survey, 30 percent of respondents have no RBSM strategy, while 23 percent only have an informal or ad hoc strategy.

"Savvy security executives will leverage risk as a means to drive business-relevant discussions, and use objective measures to show security effectiveness. It is imperative to break the cycle of 'habitual security spending' to better align security resource allocations within their businesses," said Dwayne Melancon, chief technical officer for Tripwire.

Other findings from the survey show many organizations across the world say they are committed to RBSM strategies, but fewer than half of respondents have a formalized approach to the security solution.

These survey results are startling, especially due to the increased number of cyberattacks in recent years.  Because of the rising incidence of cybercrime, businesses should both implement RBSM and invest in cyber liability insurance, which can provide financial protection in the event of a security breach.

WHY Business Insurance Now?

Learn why thousands of small businesses trust Business Insurance Now as their insurance agency.

Take 15 minutes to see how we can help you protect your business.

  • FREE, no-obligation quotes.
  • Complete one online application to compare multiple quotes.
  • Fast response—typically less than 24 hours on week days.
  • We are a nationwide insurance agency covering 48 states.
  • We work directly with you to evaluate your insurance options.
  • We only work with the top business insurance carriers in the country.
  • Expert, licensed insurance agents to guide you through the process.