Majority of Small and Mid-Sized US Businesses Will Invest in Cyber Insurance, New Research Finds
A new report, “The Economic Impact of Cyber Insurance” found that the majority of U.S. SMEs (small and mid-sized enterprises) plan to increase spending in the next two years on cybersecurity insurance, as covered in a Security magazine article.
Research was conducted by cybersecurity firm, Cowbell Cyber, which surveyed executives at more than 1,000 companies and in a variety of industries. Research found that 65 percent of SMEs planned to spend more on cybersecurity insurance in the next two years.
“Cyber breaches are no longer an ‘if’ scenario but rather a ‘when’ scenario. Our analysis of the survey results show that cyber insurance is becoming increasingly popular for SME organizations that want to protect their assets and accelerate the response and recovery process in the aftermath of a cyber-incident. Cyber insurance is now a necessity and not a luxury for organizations," said Isabelle Dumont, VP at Cowbell Cyber, in the article.
Additional report findings included:
Hikvision has posted several HikWire blogs that outline trending cyberattacks and how to identify them to prevent hacks and vulnerability exploits. Here are several article links that offer additional cyber insights:
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