- \n
- 43% of businesses<\/strong> and 19% of charities<\/strong> experienced cyber-security breaches or attacks within the past 12 months.<\/li>\n<\/ul>\n
Financial Cost of Breaches<\/strong><\/span><\/p>\n
The average cost of breaches with material outcomes in the past 12 months:<\/p>\n
- \n
- All businesses<\/strong>– \u00a33,100<\/li>\n
- Charities<\/strong>– \u00a31,030<\/li>\n
- Medium businesses<\/strong>– \u00a316,100<\/li>\n
- Large businesses<\/strong>– \u00a322,300<\/li>\n<\/ul>\n
Factors Related to Likelihood of Breaches<\/strong><\/span><\/p>\n
- \n
- Holding personal data on customers, beneficiaries or donors electronically.<\/li>\n
- Using cloud computing (using externally hosted web services to host websites, email, or transfer and store data).<\/li>\n
- Allowing employees to use their own devices for work purposes (bring your own device or BYOD)<\/li>\n<\/ul>\n
The Most Disruptive Breaches<\/strong><\/span><\/p>\n
Most disruptive breaches for organisations in the past 12 months:<\/p>\n
- \n
- Fraudulent emails or direction to fraudulent websites.<\/li>\n
- Viruses, spyware or malware.<\/li>\n
- Others impersonating an organisation in emails or online.<\/li>\n
- Ransomware.<\/li>\n<\/ul>\n
The Impact of Breaches<\/strong><\/span><\/p>\n
37% of businesses<\/strong> and 40% of charities<\/strong> that experienced a breach or attack reported suffering negative impacts. Such as:<\/p>\n
- \n
- Temporary loss of access to files or networks.<\/li>\n
- Software or systems corrupted or damaged.<\/li>\n
- Website or online services being taken down or slowed.<\/li>\n<\/ul>\n
Investing in Cyber-Security<\/strong><\/span><\/p>\n
Only 9% of businesses<\/strong> and 4% of charities<\/strong> have a specific cyber-security insurance policy.<\/p>\n
Top reasons for organisations not purchasing cyber-insurance:<\/p>\n
- \n
- Organisations don’t feel they are at risk (41% of businesses<\/strong> and 53% of charities<\/strong>).<\/li>\n
- Lack of awareness of available policies (22% of businesses<\/strong> and 17% of charities<\/strong>).<\/li>\n<\/ul>\n
Why You Need Cyber-Insurance<\/strong><\/span><\/p>\n
- \n
- Privacy events.<\/li>\n
- Network security liability.<\/li>\n
- Cyber-crime.<\/li>\n
- Network business interruption.<\/li>\n
- Physical asset damage.<\/li>\n
- Reputational damage.<\/li>\n
- Cyber-extortion.<\/li>\n<\/ul>\n
For-profit Business<\/strong><\/p>\n
For any queries regarding a current or future insurance policy call us on\u00a00191 482 1219<\/span><\/a><\/strong>\u00a0or fill in a contact form on our\u00a0website.<\/a><\/strong><\/em><\/p>\n
Charities & Not-for-profits<\/strong><\/p>\n
For charities and not-for-profits get comprehensive cyber insurance here.<\/strong><\/em><\/a><\/p>\n
- Lack of awareness of available policies (22% of businesses<\/strong> and 17% of charities<\/strong>).<\/li>\n<\/ul>\n
- Organisations don’t feel they are at risk (41% of businesses<\/strong> and 53% of charities<\/strong>).<\/li>\n
- Charities<\/strong>– \u00a31,030<\/li>\n
- All businesses<\/strong>– \u00a33,100<\/li>\n
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