According to the study, nearly 70% of all busiesses surveyed experienced one hacking incident in 2014 (see breakdown in chart above). However, more than half (55%) of the risk managers don't believe their company is dedicating enough money or trained and experienced personnel to combat the latest hacking technique (below).

They type of information being breached that risk managers said they're concerned about (see above) included personally identifiable information (53%), sensitive corporate information (33%) and financial information (14%).

To combat cyber risk, risk managers said they are most interested in deploying intrusion detection/penetration testing (32%), employee education programs (25%) and encryption (25%). For additional protection, 46% say their business has either purchased cyber insurance for the first time or increased its level of coverage in the last year. Thirty-six percent of businesses surveyed do not have any level of cyber insurance coverage.

The survey also revealed a notable exposure and concern with the use of cloud technology (see below). Loss of confidentiality of information is viewed as the biggest risk (76%), followed by service interruption (16%) and government intrusion (5%).

Related: 50% of small businesses have been the target of a cyber attack