Top Concern: The Prospect of a Big Data Breach, New Report Shows

According to a new survey by Advisen, that was commissioned by ID Experts, a majority of organizations are really concerned at the prospect of a big data breach. With the ever evolving cybersecurity landscape and advancing cyber criminal attacks, data breaches should be #1 on every company’s radar.

This enlightening survey highlights several key findings, including that all organizations are at risk for a data breach, and that most organizations have experience a data breach, but may not know it.

Every organization, in every industry and of every size, is at risk for data breach. Most organizations have experienced a data breach whether or not they know it. According to the new Advisen Ltd. report Mitigating the Inevitable: How Organizations Manage Data Breach Exposures, sponsored by ID Experts®, the majority of breaches are small and may go undetected for a long time. When they are detected, most organizations lack the internal resources to handle breach response, putting them at greater risk for costly fines and lawsuits, reputational harm, and customer identity theft. It’s no wonder then, that 80 percent of organizations are concerned about the consequences of a large breach and the impact it will have on their business. While 64 percent of those surveyed have cyber insurance, most small breaches aren’t covered, leaving organizations struggling with managing gaps in cyber insurance coverage.

To read more about the survey findings and to download the survey itself, click here.