Cyber breaches cause average $1.1m loss for nearly four in 10 businesses
Saturday, 06 27 2015, Category: Insurance and Reinsurance, Country: World
Some 38% of businesses have experienced a disruptive loss relating to a data breach in the past 24 months, costing them on average $1.1m, according to a report by Aon Risk Solutions.
Based on a survey of 545 risk professionals in Europe, Middle East and Africa, the report said, of those who experienced a cyber breach, 84% said the most common incident was an attack that disrupted business and IT operations.
The report, conducted by data firm Ponemon Institute, said there was a “huge insurance gap” between tangible and intangible assets. Only 11% of potential loss to intangible assets is covered by insurance, compared to 49% for tangible assets, meaning intangible assets are 38% are more exposed to loss.
Source: The Actuary