A study conducted for Hiscox shows that, out of 3,000 companies in the U.S., UK and Germany, slightly more than half (53 percent) of these organizations are not prepared to effectively handle a cyber-attack. It is concluded in the study that U.S.-based companies not only outrank the others regarding key aspects like planning, strategy, resourcing and process, but they are also the most heavily targeted for cyberattacks.
The Hiscox Cyber Readiness Report 2017 depicts that U.S. companies are the most likely to have experienced an attack as 72 percent of larger businesses have reported at least one cyber incident from this past year. It is shown in the report that larger U.S. companies deal with cyber-attacks that, on average, cost up to $102,000, significantly lower than figures that make the headlines. Still, the average cost is expensive. Cyberattack incidents are on the rise, therefore it comes as no surprise that investing in cybersecurity is steadily becoming more significant to these enterprises.