According to the Hiscox Cyber Readiness report 2021 some 43 per cent of companies report having been targeted with over a quarter experiencing five assaults or more. One in six businesses attacked (17 percent) also reveal how the financial impact has threatened the company’s future.
The findings from a study of 6,042 companies across eight countries, commissioned by specialist insurer Hiscox, also charted the additional cost for firms to protect themselves with spending on cyber security more than doubling in the past two years.
The report, which covered businesses in the US, UK, Belgium, France, Germany, Spain, the Netherlands and Ireland, features a new cyber readiness model that gauges firms’ strengths in six key cyber security areas across people, process and technology.
Designed to be interactive, it allows businesses to check and compare their cyber maturity with their peers, draw on best practice in each area, and develop cyber resilience.
Scoring survey respondents against the readiness model highlighted the number of firms lacking true cyber resilience. While one in five qualified as an ‘expert’, more than a quarter were classed as novices.
