Cyberinsurance is not new to the scene, and an increasing number of organizations are accepting its critical role in safeguarding them against costly cybersecurity incidents. Yet recently, we’ve seen ongoing discussion of its overall value to organizations, as well its net impact to the state of cybersecurity.
As pundits discuss, debate, and ponder, crippling cyber incidents continue. According to recent reports, the annual costs of worldwide data breaches are expected to surpass $5 trillion by 2024, with North American businesses taking the brunt of the force. Who is footing these exorbitant bills? Of the many smaller, cash-strapped organizations within this statistic that chose to opt out of cyberinsurance, how many weathered the storm?
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