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Cyber insurance providing company, Hiscox, has produced a report on the number of cyberattacks that are growing across several verticals in the US and Europe, which have both seen a sharp surge. Cyber readiness, it finds, has come to a halt. The survey included nearly 5,400 private and public sector organisations from the US, UK, Belgium, France, Germany, Spain and the Netherlands. It finds that 61 percent of the firms experienced a cyber incident in the past year, up from 45 percent in 2018. Financial losses that accounted for US$ 1,67,000  have risen five times to nearly US$ 7,20,000, yet cyber readiness seems to be moving at a ‘snail’s pace,’ as only 10 percent of the surveyed companies achieved “expert” status and 74 percent were tagged as unprepared “novices.” The report details levels of readiness by country – access that here.


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