An excellent resource available to anyone interested in Cyber security and insurance, the annual forecast that Experian does is highly recognized in our industry. We had a chance to review Experian’s annual Data Breach Industry Forecast for 2018. It was shocking. Seriously. Here are the top 5 key points as seen through the eyes of our President, Kevin Sneed:
- Operating in the digital world in 2018 with no disaster plan in place may be fatal for any size of business. Effective Cyber Insurance is at the top of that plan. Risk avoidance is impossible, and event probability is almost certain. Therefore, risk transfer is an absolute.
- Remember 5/25/18. This is a date that will live in Cyber Infamy.
- The line between Cyber threat and physical threat is now thin ice.
- More intelligence creates sophisticated attacks easier and faster.
- Small business risks death.
Over the next couple of weeks, the blog will be updated to dive into each one of these take away themes. Make no mistake, everything in the report confirms what we have been saying at the ground battle level about Cyber Liability. The risk is getting much bigger, not smaller. The bad guys are winning the war right now- we implement security in reaction to threat. Most of American small business’ still do not buy effective Cyber Insurance, yet, the transfer of risk is one of the only effective weapons when under attack.
US Pro is working to change this dynamic. We are working to help America’s small business understand what they are facing. We are teaching America’s retail agencies how to understand Cyber risk by industry class. We are “America’s Cyber Insurance Experts”, and we are working for you.
For access to a copy of Experian’s report, please visit their website directly to get your copy. We highly recommend this as a resource.