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Ninety Percent of Business Have Been Targets of Hackers, Risk Managers Say

For risk managers - indeed for most businesses - among the most disturbing words they can hear are "We've been hacked."

Ninety Percent of Business Have Been Targets of Hackers, Risk Managers Say

What was once something to fear for only large businesses is now an issue for the majority, according to a survey of business risk managers released May 17 by the Connecticut-based specialty insurer Hartford Steam Boiler Inspection and Insurance Co., which is owned by Germany-based reinsurer Munich Re.

The survey, conducted last month, found that nine of 10 businesses experienced at least one hacking incident in the past year. The survey also found that the number of attacks increased 21 percent from 2015.

“Hackers are even more relentless,” said Eric Cernak, cyber practice leader for Munich Re. “Sixty-four percent of risk managers say they have experienced more than six hacking incidents in the last year — up from 32 percent in 2015. U.S. businesses are under constant assault.”

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What was once something to fear for only large businesses is now an issue for the majority, according to a survey of business risk managers released May 17 by the Connecticut-based specialty insurer Hartford Steam Boiler Inspection and Insurance Co., which is owned by Germany-based reinsurer Munich Re.

The survey, conducted last month, found that nine of 10 businesses experienced at least one hacking incident in the past year. The survey also found that the number of attacks increased 21 percent from 2015.

“Hackers are even more relentless,” said Eric Cernak, cyber practice leader for Munich Re. “Sixty-four percent of risk managers say they have experienced more than six hacking incidents in the last year — up from 32 percent in 2015. U.S. businesses are under constant assault.”

Read Full Article

Ninety Percent of Business Have Been Targets of Hackers, Risk Managers Say