32% of businesses were impacted by cyber related crimes in 2016

Cyber Statistics and Coverage

In our recent cyber blog, “Understanding and Preventing Cyber Attacks”, we gave you insight on what cyber attacks are and how you can prevent them.

To help you be even more aware of cyber attacks and how much they impact businesses, check out these statistics from the 2016 Global Economic Crime Survey:

  • Cyber attacks were ranked as 2016’s second most reported crime
  • 32% of businesses were impacted by cyber related crimes
  • 34% of businesses believe they will be affected by a cyber crime within the next two years
  • 61% of CEOs reported being concerned about their cyber security
  • 63% of businesses do not have a cyber incident response plan
  • Of the businesses surveyed, most lost at least $5 million due to cybercrime while others lost over $100 million
  • Reputational damage had the highest impact on businesses
  • Only 40% of companies have a team fully trained to act on cyber attacks

At Allied Insurance Managers, we can help you with all of your cyber coverage needs. To see what coverage is available, check out this AIM Cyber Coverage Flyer.