INFOGRAPHIC | May 24, 2023 | Authored by RSM US LLP
Cyberattacks have quickly become a top concern for every company. Breaches into large organizations generate headlines, but small and middle market companies actually suffer the lion’s share of attacks.
new and updated cyber insurance claims were collected in 2022 with…1
…of those from companies with less than $2 billion in annual revenue2
of middle market companies surveyed in RSM’s 2023 Cybersecurity Special Report admitted to a data breach in the past year3
middle market executives anticipate unauthorized users will attempt to access data or systems in the next year4
There are several kinds of cyberattacks, and organizations must defend against all types in order to keep their data safe.
The range of damage varies from one breach to the next, but reputational damage may be the greatest expense of all.
The number of records exposed ranged from 2 to over 300 million…8
…with the claims ranging from less than $1,000 to over $300 million9
The average incident cost for middle market companies was $198,00010
Middle market organizations are actively upgrading defenses and implementing new solutions to avoid costly breaches.
Cyberattacks may be part of how we all do business now, but data breaches don’t have to be.
2. NetDiligence Cyber Claims Study 2022 Report
4. RSM US Middle Market Business Index: Cybersecurity Special Report 2023
5. NetDiligence Cyber Claims Study 2022 Report
6. RSM US Middle Market Business Index: Cybersecurity Special Report 2023
7. RSM US Middle Market Business Index: Cybersecurity Special Report 2023
8. NetDiligence Cyber Claims Study 2022 Report
9. NetDiligence Cyber Claims Study 2022 Report
10. NetDiligence Cyber Claims Study 2022 Report
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This article was written by RSM US LLP and originally appeared on May 24, 2023.
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