Marsh has appointed Sir Iain Lobban, former director of the UK security and intelligence organisation, as a senior adviser on cyber risk.
In his newly created role, Lobban will provide strategic advice as Marsh works with governments, regulators and clients on how best to address the increasing threat of cyber risk.
He will report to Mark Weil, CEO of Marsh UK and Ireland.
Previously, Lobban was director of the Government Communications Headquarters, better known as GCHQ, between 2008 and 2014.
Weil said: “Cyber risk is one of the biggest risks that confronts our clients. It is a new threat, unbounded by geography and set to escalate as more goes online and as the barriers to entry for criminals comes down.”
Marsh’s UK 2015 Cyber Risk Survey report found that, while cyber risk featured on the risk registers of almost 75 percent of firms, senior-level engagement was worryingly low.
Corporate directors were primarily responsibility for cyber risks in less than one fifth of the organisations surveyed, while IT departments oversaw management of the risk in more than half.
