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Cybersecurity Awareness Month 2023 may be in the rearview, but digital threats persist and continue to be a top risk facing today's businesses.

Consider that the average data breach cost reached $4.35 billion in 2022, according to IBM, and the average cost of a ransomware attack cost $4.54 million. IMB also reports that for several years now, the U.S. accounts for the highest average cost of a data breach at $5.09 million per year.

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Elana Ashanti Jefferson

Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].

Information Security
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E&S/Specialty
Cybersecurity