Insurance claims patterns reveal additional insights into cyber incident trends. Business interruption and data breaches lead insurance claims at 38% and 37% respectively. However, 30% of businesses with cyber insurance coverage filed no claims during the survey period.
Resilience, founded by experts from US military and intelligence communities, conducted the research through YouGov. The company, which maintains offices in San Francisco, New York, Chicago, Los Angeles, Baltimore, Toronto, London and Dublin, receives backing from technology investment firms including General Catalyst, Lightspeed Venture Partners, and Intact Ventures.
Vishaal Hariprasad, CEO and co-founder of Resilience, says: “Cyber risk has become an undeniable reality for businesses of all sizes, yet our findings highlight a concerning gap in understanding and preparedness, particularly in how leaders assess and manage these risks as financial risks. Traditional approaches are no longer enough, and organisations must embrace a financial lens to improve their cyber business decision making and achieve cyber resilience.”
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