Staffing Firms Access Exceptional Cyber Insurance Limits Today
Real-World Examples and Statistics
The importance of cyber insurance is underscored by recent statistics. According to the Hiscox Cyber Readiness Report 2023, 48% of small businesses experienced a cyber attack in the past year, with an average cost of $200,000 per incident1. For staffing firms, the financial impact can be even more significant due to the volume of sensitive data they handle.
Moreover, a report by IBM Security found that the average cost of a data breach in the United States reached $9.44 million in 20222. These figures highlight the critical need for staffing firms to invest in cyber insurance with sufficient limits to mitigate such risks effectively.