SMEs underestimate the cost of cyber incidents

A new report from cyber insurance provider Cowbell shows that 90 percent of small business leaders underestimate the cost of a cyber incident. The study of 500 SME leaders across the US shows that 50 percent of SMEs have experienced a significant cyber incident in the past 12 months and, of those, 90 percent say the attack cost more than they anticipated. Looking at the sectors which suffer most attacks, computer hardware or software (68 percent), utilities, energy, water and telecoms (61 percent), and financial services or insurance (60 percent) are revealed as the top victims. However, the report also… [Continue Reading]