Security Spending Doubles but Two-Fifths of Firms Suffer Breaches
Phil Muncaster UK / EMEA News Reporter , Infosecurity Magazine
The insurer’s annual
Hiscox Cyber Readiness report has become a useful gauge of how mature and effective organizations’ cybersecurity strategies are. This year the firm engaged Forrester Consulting to poll over 6000 such companies across the US, UK, Belgium, France, Germany, Spain, the Netherlands and Ireland.
It revealed that the average firm now spends more than a fifth (21%) of its IT budget on cybersecurity, an increase of 63% in a year, with mean spending per firm more than doubling in two years — from $1.45 million to $3.25 million.