Over one quarter of small business owners report being targeted by AI-driven scams in the past year. (Credit: VideoFlow/Adobe Stock)
Recovery costs after a cyberattack far exceed what most small business owners believe, according to a recent Nationwide survey.
Sixty-five percent believe costs would be $5,000 or less, the data showed, and 20% think they'd recover in under a month. Meanwhile, six in ten small businesses believe their non-cyber insurance provides coverage for breaches, ransomware incidents and other digital loss events. Only 42% of small business owners report having cyber insurance coverage.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Joe Toppe
Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.
