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Almost 70% of Businesses Hacked in Last Year

More than a third of companies have no cyber coverage.

By Rosalie L. Donlon, PropertyCasualty360.com | Updated on June 11, 2015

Every day you can read at least one news story about a company whose data was hacked or whose personally identifiable information was compromised. With all the attention given to cyber incidents and the number of cyber security products available, you’d think that hacking incidents would be decreasing.

But a study of business risk managers released June 4 by The Hartford Steam Boiler Inspection and Insurance Co. (HSB), part of Munich Re, found close to 70% of businesses were hacked at least once in the last year. The study also found that more than half (55%) of the risk managers surveyed don’t believe their company is dedicating enough money or trained and experienced personnel to combat the latest hacking techniques.

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