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One big thing: Aon’s 2023 Cyber Resilience Report found that on average, a major cyber incident resulted in a 9 percent decrease in shareholder value - over and above the market - in the year following the event. Earlier this week, The Wall Street Journal referenced Aon’s report in an article about how corporate boards should approach systemic cyber risk.

• Go deeper: For the manufacturing industry, Aon’s data shows that the overall risk score improved from 2.2 to 2.5 – on a scale of 1 to 4 - in 2022 for mid-market clients; however, 56 percent of the companies reported risk scores lower than 2.5 in 2022. The median percent of IT budget reportedly spent on security also rose globally in the manufacturing industry, with companies reporting 8.5 percent of the IT budget dedicated to security.
• Aon’s report serves as a guide to help business leaders benchmark their organization's cyber risk maturity against peers and make better decisions when managing cyber across six risk areas: cyber, operational, supply chain, insider, reputational and systemic. 
• Read the press release and additional media coverage in Insurance Insider, The Insurer, Canadian Underwriter, PropertyCasualty360, Reinsurance News, Insurance Portal and Security Magazine.