American businesses may not be as cyber-ready as they think, according to research from Hiscox's second annual Cyber Readiness Report.
According to the study, 7 out of 10 firms globally fail to prepare for a cyber attack, despite 69% of companies ranking the threat of a cyber-attack as a top risk to their businesses alongside fraud. The report also found that large U.S. businesses lose an average of $1.05 million to cyber crime annually.
The report surveys managers and IT specialists at over 4,100 companies in the U.S., U.K., Germany, Spain and the Netherlands to gauge how prepared businesses are to manage cyber threats.
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Danielle Ling
Danielle Ling is an experienced video journalist and business reporter. As associate editor, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. A University of Maryland and Philip Merrill College of Journalism alum, Danielle previously served as a video journalist for Verizon FiOS 1 News NJ, Push Pause. Connect with Danielle on LinkedIn or email her at [email protected].
