According to Proofpoint, more than three-fifths (62%) of worldwide CISOs are worried about being held personally responsible for successful cyber-attacks that happen under their watch. A comparable percentage also indicated that they would not join a company that did not provide insurance to cover them. The security vendor surveyed 1600 CISOs from companies with 200 or more people from a variety of industries across 16 countries for its Proofpoint 2023 Voice of the CISO study.
The study found that CISOs are most likely to request insurance coverage in industries like retail (69%), financial services (65%), and manufacturing (65%) that deal with large volumes of sensitive data and/or strict regulations. The quality of life of CISOs may be suffering as a result of high levels of personal culpability, decreasing resources, and stressful work situations.