With valuable data that’s often unprotected, mid-market businesses are prime cyberattack targets.
Key takeaways
For companies of any size, the cost of recovering from a cyberattack can run into six figures.
With attacks on the rise, it’s no longer easy or affordable to secure cyber liability insurance.
While the media focuses on high-profile data breaches at large corporations, middle market organizations are not immune to cyber warfare. In fact, the middle market is a prime target for cyberattackers, who understand that businesses in this segment possess valuable data, yet often lack the controls and security teams to protect it.
According to Check Point Software Technologies, cyberattacks increased 40% globally year-over-year in 2021.3 With cyberattacks on the rise, cybersecurity should be a priority when considering a business acquisition. Ensuring that the target business’s data is secure and uncompromised should be a mandatory part of the due diligence process.
92%
Percentage of data breaches in the first three months of 2022 that were the result of cyberattacks.1
72%
Percentage of middle market executives who believe unauthorized users will attempt to access data or systems in 2022.2
Our e-book, The importance of cyber due diligence, explains:
- The potential financial risk and recovery time from a security breach
- The current state of cyber liability insurance
- Key considerations when conducting a security assessment
- How an experienced partner can help with comprehensive due diligence
1. ITRC, “Q1 2022 Data Breach Analysis”
2. RSM, ”2022 Cybersecurity Special Report”
3. CIO & Leader, October 11, 2021: Cyberattacks increase 40% globally in 2021 study
See related insights
