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Top ranking officials not taking cyber risk as seriously as they should

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Recent research from the 2012 Carnegie Mellon CyLab Governance survey demonstrates that many companies' board members and senior executives are not giving cyber risks the appropriate amount of attention.

Some of the ways CEOs and CFOs can increase their protection from cyber risk are to learn about some of the most effective policies and budget allocations for privacy and security initiatives of the top companies that are knowledgeable about cyber risk.

Another way businesses can protect themselves from issues related to cyber risk is to invest in a professional liability insurance policy, which has coverage for cyberliability issues.  

"With the convergence of these trends amid an increasingly complex compliance and threat landscape, executives and boards must be actively engaged in ensuring their organizations are addressing these risks while reaping the benefits of next generation IT," said Brian Fitzgerald, vice president of marketing for IT security firm RSA.

According to the Washington Post, FBI Director Robert Mueller recently briefed Congress that cyberattacks are set to become more dangerous than terrorism "in the foreseeable future."

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