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Corax and law firm Clyde & Co have recently collaborated to produce a joint white paper, Cyber Breach Insights: Key Drivers Beyond Cyber Insurance Claims. The paper moves beyond major breaches to examine the key drivers of frequency and cost for cyber insurance claims, highlighting premium versus risk in cyber.
The research – which is based on randomly selected and anonymized data from 321 breach events reported to insurers in the U.S. between 2014 and 2015 – tracks each invoiced cost amount associated with a covered breach event.
The 20 page report reveals, for example, that 90 per cent of organizations that experienced breaches are small and medium sized, with Leisure, Retail and Hospitality experiencing the most expensive breaches, averaging $18k per breach. Small businesses were consistently found to have the highest reported number of breaches.
To request a copy of the report, fill in your details in the form to your right and you’ll be emailed a link to download your copy.