More than half of Fortune 500 firms disclosing cyber risk vulnerability believe their firms would be seriously harmed by a cyber-attack, but many are still unprepared for one, shows a Willis North America study.

The top three cyber risks identified by the study group are theft of confidential information (65 percent), loss of reputation (50 percent), and direct loss from malicious acts by hackers and viruses (48 percent).

Securities and Exchange Committee guidelines say cyber risk insurance is an appropriate consideration; however, only six percent of those surveyed buy it.

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