INFOGRAPHIC | May 24, 2023
Authored by RSM US LLP
For more information, contact Patrick Rost at email@example.com.
Cyberattacks have quickly become a top concern for every company. Breaches into large organizations generate headlines, but small and middle market companies actually suffer the lion’s share of attacks.
new and updated cyber insurance claims were collected in 2022 with…1
…of those from companies with less than $2 billion in annual revenue2
of middle market companies surveyed in RSM’s 2023 Cybersecurity Special Report admitted to a data breach in the past year3
middle market executives anticipate unauthorized users will attempt to access data or systems in the next year4
There are several kinds of cyberattacks, and organizations must defend against all types in order to keep their data safe.
The range of damage varies from one breach to the next, but reputational damage may be the greatest expense of all.
- The number of records exposed ranged from 2 to over 300 million…8
- …with the claims ranging from less than $1,000 to over $300 million9
- The average incident cost for middle market companies was $198,00010
Middle market organizations are actively upgrading defenses and implementing new solutions to avoid costly breaches.
Cyberattacks may be part of how we all do business now, but data breaches don’t have to be.
2. NetDiligence Cyber Claims Study 2022 Report
4. RSM US Middle Market Business Index: Cybersecurity Special Report 2023
5. NetDiligence Cyber Claims Study 2022 Report
6. RSM US Middle Market Business Index: Cybersecurity Special Report 2023
7. RSM US Middle Market Business Index: Cybersecurity Special Report 2023
8. NetDiligence Cyber Claims Study 2022 Report
9. NetDiligence Cyber Claims Study 2022 Report
10. NetDiligence Cyber Claims Study 2022 Report
This article was written by RSM US LLP and originally appeared on May 24, 2023.
2022 RSM US LLP. All rights reserved.
RSM US Alliance provides its members with access to resources of RSM US LLP. RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each are separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax, and consulting firms. Members of RSM US Alliance have access to RSM International resources through RSM US LLP but are not member firms of RSM International. Visit rsmus.com/aboutus for more information regarding RSM US LLP and RSM International. The RSM(tm) brandmark is used under license by RSM US LLP. RSM US Alliance products and services are proprietary to RSM US LLP.
For more information, contact
Patrick M. Rost, CISSP, CMMC-AB RP
Patrick assists clients with improving their cyber security from a technical perspective. With nearly 10 years of information technology experience in a variety of industries, he is well-suited to assist clients in implementing, maintaining and protecting their computer networking environments.