The average cost of a cyber security incident ranged from $35,967 for U.S. companies with 99 employees or fewer to $102,314 for companies with 1,000 employees or more, according to the Hiscox Cyber Readiness Report 2017. The report is compiled from a survey of more than 3,000 executives, departmental heads, IT managers and other key professionals in the U.S., the U.K. and Germany.
The report found that U.S. firms are the most likely to experience an attack, with 72 percent of larger businesses and 68 percent of smaller companies reporting a cyber incident in the past year.
Of those companies that experienced an incident, 46 percent said it took two days or more to get back to business as usual after a breach.
See the infographic below for more findings from the Hiscox Cyber Readiness Report 2017.
(Click image to enlarge.)
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Shawn Moynihan
Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].
