Survey: Cyber hacking a costly expense for many businesses

Survey: Cyber hacking a costly expense for many businesses

(Hartford Business Journal, 12/11/17)

Twenty-nine percent of U.S. businesses experienced a data breach last year, and eight in 10 spent at least $5,000 to respond, according to the latest survey from The Hartford Steam Boiler Inspection and Insurance Co. (HSB).

The survey, conducted by Zogby Analytics for HSB, a cybersecurity insurer that is part of Munich Re, also found that almost half of the breaches (47 percent) were caused by a vendor or contractor working for a business. Other causes included employee negligence (21 percent) and lost or stolen mobile devices or storage media (20 percent).

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