PHILADELPHIA, Nov. 17, 2020 /PRNewswire/ — NetDiligence®, a leading provider of cyber risk readiness and response services, announced today it has published its tenth annual Cyber Claims Study, a study of actual losses for data breaches and other cyber-related events covered by leading cyber insurance carriers. Sponsoring the study are RSM and Experian® Data Breach Resolution.
This year’s report features analysis of 3,547 claims arising from events that occurred during 2015–2019. The data from these claims has been aggregated in over 20 ways, including total, average, and median costs; the nature of the event (type of data exposed, business sectors affected, revenue size of claimants, causes of loss); and the growing impact of cybercrimes (ransomware, business interruption, social engineering).
Findings are presented separately for small to medium enterprises (SMEs) and large companies. In this report, the average revenue for SMEs was approximately $90M, while the average revenue for large companies was $8B.
In this year’s study, ransomware was the number one cause of loss for SMEs and the costs associated with…
