Cyber losses among businesses have risen nearly six-fold during the past year, from a median cost of $10,000 per firm to $57,000, according to an international survey commissioned by insurer Hiscox.
Total cyber losses among the study group rose from $1.2 billion to nearly $1.8 billion during the same period, said the study, titled “Hiscox Cyber Readiness Report 2020.”
The highest recorded total loss for any one company over the duration of the year was $87.9 million (a UK financial services firm) while the highest loss from any one event was $15.8 million (a UK professional services firm).
