Cyberattacks and data breaches are the primary concerns for directors and officers, according to WTW.

Cybersecurity continues to be a top concern for business leaders, according to a recent survey by Willis Towers Watson (WTW). The Cyber Directors’ and Officers’ Survey Report reveals that many company directors are increasingly aware of the risks posed by cyberattacks and data loss. The survey, conducted in 2025, shows that a significant number of companies are taking steps to protect themselves with insurance.

The findings indicate that 53% of the companies surveyed already have cyber insurance, while another 18% plan to acquire a policy within the next two years. This insurance is becoming an essential part of liability coverage for directors and officers.

Despite a temporary decline in cyber premiums earlier in the year, insurers are now raising rates, with some clients facing increases of around 10%. Interestingly, even though the volume of cyber claims has dropped by 20% compared to 2023, the number remains higher than pre-pandemic levels. This situation has prompted insurers to tighten their underwriting controls and reassess coverage limits.

When it comes to concerns about cyber threats, the survey highlights some regional differences. In Great Britain, cyberattacks are seen as the primary threat, while in North America and the Middle East, data loss tops the list. Notably, there was a slight decrease in the ranking of cyberattacks as a risk from 2024 to 2025.

The report also sheds light on how companies are managing cyber risk at the board level. More boards are now receiving regular updates on cybersecurity. In 2025, 28% of respondents reported that their boards receive monthly updates, a rise from 18% the previous year. Additionally, the number of boards that only get updates after incidents has decreased from 20% to 12%.

The involvement in cybersecurity is expanding beyond just senior leadership. More individuals in technical or operational roles are now taking part in discussions about cyber threats, reflecting a desire to blend strategic and technical viewpoints.

Preparedness for cyber incidents is improving as well. The survey shows that 80% of companies have a cyber incident response plan, and more than two-thirds have conducted a response exercise in the past year. The percentage of respondents who feel well-prepared to handle a cyber incident has increased from 56% to 65%.

Looking ahead, companies expect to increase their cybersecurity budgets, though the growth rate is slowing. In 2025, 56% of organizations plan to raise their cybersecurity spending, down from 63% in 2024.

As cyber threats continue to evolve, companies are recognizing the importance of proactive measures and insurance coverage to safeguard their operations and reputations.