New Report Looks at Cyber Risks For Directors and Officers

• 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.