BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
Almost half of about 4,000 businesses surveyed have suffered some sort of cyber attack in the past year, according to a report from Bermuda-based insurer and reinsurer Hiscox Ltd. on Tuesday.
The second Hiscox Cyber Readiness Report, conducted by Cambridge, Massachusetts-based Forrester Research Inc., includes 4,103 organizations of varying size in the private and public sectors across five countries: the U.K., U.S., Germany, The Netherlands and Spain, according to a statement from Hiscox.
Of the organizations surveyed, 45% were hit by at least one cyber attack in the past year and two-thirds of those targeted suffered two or more attacks, the report said.
For those organizations targeted, the average cost to each business over the past year was $229,000, the report said.
Costs, however, escalated sharply in some cases. For the largest organizations surveyed, those with at least 1,000 employees, the average cost of an attack ranged from $356,000 in Spain to $1.05 million in the U.S., the report said.
Companies are moving to address and combat the threat, according to the report.
Almost three-fifths, or 59%, of respondents plan to increase their cyber security budgets in the year ahead, and new technology “tops the shopping list despite this being the area where the bulk of firms appear best prepared,” the report said.
The report also suggests that technology is just one component of a proper defense against attacks, saying, “Cyber security is not an IT issue but rather a risk for the whole organization; tackling it is more about people, behavior and culture than clever technology.”
Robin Jones, head of Technology, Resilience and Cyber at the U.K.'s financial regulator Financial Conduct Authority, said that the number of reported cyber attacks against financial services firms grew more than 80% year over year, Information Age reported. Regulated financial services firms are required to report material cyber attacks to the FCA if they lead to a significant loss of data or the availability or control of IT systems affect a large number of customers, among other consequences.