Cyber Attacks on the Rise for Businesses, Pushing Many to the Brink: Hiscox
April 19, 2021
The proportion of businesses targeted by cyber criminals in the past year increased from 38% to 43%, with over a quarter of those targeted (28%) experiencing five attacks or more, according to the Hiscox Cyber Readiness Report 2021.
Those attacks are pushing many firms to the brink, with one in six businesses attacked (17%) saying the financial impact materially threatened the company’s future.
The Hiscox report says insurance take-up is still patchy. “Adoption of standalone cyber cover crept up from 26% of firms to 27% over the year.”
These are among the findings of a survey of 6,042 companies in the U.S., UK, Belgium, France, Germany, Spain, the Netherlands and Ireland. Now in its fifth year, the Hiscox Cyber Readiness Report 2021 surveyed a representative sample of organizations.