Hiscox Cyber Readiness Report 2020

By Hiscox

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The annual Hiscox Cyber Readiness Report 2020 reveals that businesses in the US are increasing spending and activity to reduce their vulnerability to cyber events, but there is more work to be done. In this year’s report, we see a battle emerging between cyber criminals and businesses, with businesses gaining some ground in terms of the number of attacks. Amongst the 1,000 professionals surveyed in the US, only 41% of respondents reported that their organization experienced at least one cyber incident or breach compared to 53% last year. However, the criminals have the upper hand in terms of the cost of attacks, since the median cost of all cyber incidents in the US has risen from $10,000 last year to $50,000 in this year’s figures.

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