World Wide WebHiscox is a leading provider of Cyber Insurance worldwide.  This is their 3rd Cyber Report, which can give an interesting perspective in trends from prior years. 

The number of firms reporting a cyber-attack has increased from 45% in 2018 to 61% in the 2019 report.  Some of the key takeaways from the 2019 report are:

1.       Cyber readiness fell from 11% to 10% for this report

2.       Cyber average losses increased 61% to over $369,000

3.       For small firms, average cyber losses increased from $3000 in 2018 to $9000 in the 2019 report

4.       Nearly 66% of firms experience a cyber incident in their supply chain in the 2019 report

5.       Three out of five firms reported a cyber-attack

6.       For small firms the number reporting attacks went from 33% in the prior report to 47%

7.       Most firms are increasing the amount spent on cyber defenses

Good news for the USA is that they had the lowest percentage of reported attacks at 53% of the firms compared to the other countries that were part of this survey.  But this was an increase from 38% in the prior year’s report.

For more information you can go to the Hiscox Website or

To read the entire Hiscox 3rd Cyber Readiness report as a PDF

Click Here

 

 

Lee Norcross 
Contact Me Today
Lee Norcross, MBA, CPCU

Managing Director, CEO

(616) 940-1101 Ext. 7080 
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