Critical findings
Cyber vulnerabilities may outpace protection
Our report revealed business decision-makers understand they face numerous cyber risks, and that a cyber incident could have significant negative impact on their business.
38% of business decision makers
have not increased their cyber policy limits in the last 12 months
42% of businesses
may not have enough insurance to cover the average cost of an attack
1 in 2 businesses
report experiencing a malware-related attack
3 most common types of attacks:
ransomware, malware and social engineering
2 days
is the time 60% of respondents said it would take to become unprofitable if they lost access to critical systems/data
70% outsource security
operations or critical IT to third-party vendors
With records, revenues, supply chain and reputation all on the line, businesses are right to be greatly concerned about cyber risks. As companies focus on digitization and interconnectivity, so will cyber criminals. Businesses will need protection that goes well beyond basic cyber liability insurance.