2017 Cyber Security and Data Privacy Study

How does your company compare?

Ransomware. Denial of service attacks. Malware. Business email compromise scams. Businesses today are faced with increasing levels and types of cyber threats.

No matter the type of cyber incident, the consequences of a cybersecurity and data privacy breach to an organization of any size can be catastrophic – for some businesses the financial loss, including business interruption cost, can range in the millions of dollars and the reputational harm can be irreparable.

The USI 2017 Cyber Security and Data Privacy Study provides insights into:

• Trends in whether companies’ security vulnerabilities and perceptions are changing over time
• Current levels of preparedness and perceptions of security and network vulnerabilities
• Challenges that companies face when reviewing their coverage options
• Exposures related to business interruption costs
• Incident experiences

SURVEY HIGHLIGHTS

• Both large and smaller businesses reported having experienced incidents during the past year, such as data privacy incidents, impostor fraud, and ransomware.
• Protecting against cyber security and data privacy risk is a high priority, and businesses are increasing information technology (IT) budgets to address the risk.
• A majority of large and smaller businesses purchase cyber security and data privacy insurance.
• Large and small businesses alike are developing incident response and business continuity plans to address the threat of cyber security and data privacy risks.

This year’s survey is a follow-up to studies conducted in 2015 and 2016. We surveyed 100 decision-makers at companies with $100 million or more in annual revenue, and this year included another 100 businesses with $5 million to $100 million in annual revenue. Follow the links below for additional information on the survey.