cyber insurance

Small businesses underestimate financial cost of cyberattacks

According to a new US survey the average security breach causes an average of US$149,000 in damages, yet most small-to-medium-sized businesses thought cyberattacks would cost them under US$10,000 Small businesses, specifically at the 1-49 employee-size segment, continue to grossly underestimate their cyber vulnerability, cybercriminals’ technological sophistication and their estimated damage costs in the event...