As cyber risks continue to evolve, social engineering fraud is growing in popularity. The average cost of a cyberattack in 2022 was just over $4 million with 2023 totals expected to reach more than $5 million. The cost for small businesses is just over $2 million for an attack and the results can be devastating.
Companies that collect personally identifiable information such as law firms, doctor's offices, accounting and financial institutions, insurance companies and brokers have become favorite targets of these attacks.
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Patricia L. Harman
Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]
