Cyber Insurance: Managing the Risk

September 2017

Cyber incidents are on the rise. BDO USA’S 2016 BOARD SURVEY, which sought insights from Board members about their cybersecurity practices, found that 22% had reported cyber incidents in the previous two years. The challenge for industry is that, as cyber incidents increase, they will become more difficult – and therefore more expensive - to defend. The same survey found that the average annual cost of cyber breaches was US$4 million.