The costs of cyber attacks extend beyond immediate system disruptions to include legal fees, regulatory fines and reputational damage. The research indicates that cyber threats rank as the primary global business concern for organisations across all sectors.
“In today’s interconnected world, the complexity and frequency of cyber threats are intensifying at an unprecedented rate,” says Stu Sjouwerman, CEO of KnowBe4. “This latest research clearly indicates that organisations, regardless of size, must adopt a proactive and comprehensive approach to cybersecurity.”
Industry partnerships shape future of cyber defence
The report emphasises the relationship between security practices and insurance coverage. Insurers examine an organisation’s security posture, including employee training programmes and incident response capabilities, when determining premiums and coverage limits.
The research advocates for strategic partnerships between businesses, insurers and cybersecurity experts to address emerging threats. This collaborative approach aims to combine technological defences with comprehensive insurance coverage and employee education.
