Hiscox: Half of US businesses reported a cyberattack in the past year

Cyberattacks are on the rise in America, if a new report by Hiscox is anything to go by. The “Hiscox Cyber Readiness Report 2019” is Hiscox’s third in the annual report series. To prepare the report, the international specialist insurer surveyed about 5,400 professionals in the US, UK, Germany, Belgium, France, Spain and the Netherlands to assess the cybersecurity preparedness of businesses in those countries; more than 1,000 of those respondents were based in the US. According to the report, 53% of US businesses reported experiencing a cyberattack in the past 12 months, compared to only 38% the year before. Hiscox also noted that 45% of US companies experienced three or more attacks in the last year, and that the mean cost of US cyber incidents was around $119,000. Despite the increase in cybersecurity incidents, however, American companies are not doing enough to mitigate the damage of such risks, the report found.

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