Study Shows Cyber Risk is a Growing Concern

Based on a global survey of over 500 executives, Lloyd’s Risk Index is calculated to show the top risks for businesses. Cyber risk has jumped from the 12th spot on the list of risks for businesses in 2011 to the third spot in 2013. Surprisingly, business leaders still remain unaware of just how devastating this kind of attack can be.

The cost of cyber breaches is growing each year, as is the number of times these attacks are occurring, which explains the jump on the list of risks for businesses—but still, business owners are reminded to properly assess the damage that cyber attacks could cause them.

Source: ABEX Insurance.  Contact Mitchell Sandham Insurance for further information regarding Network Security, Cyber Liability and Privacy Breach coverage.  We are the experts in this emerging field.  rmitchell@mitchellsandham.com or (416)862-5620.