Smaller businesses more aware and afraid of cybercrime: Zurich survey

By Erin Ayers on December 1, 2016

Small to mid-sized businesses in the United States show more concern about cyber crime, including losing customer data, than similarly-sized businesses elsewhere in the world, according to a new survey from Zurich Insurance Group.

The survey also revealed that only three percent of those businesses feel they have the security measures in place to combat cyber crime.

“As the holiday shopping season approaches, we see that U.S. businesses of all sizes are taking the threat of cybercrime more seriously,” said Bryan Salvatore, president of specialty products for Zurich North America. “This is good news, because understanding the severity of risks is the first step toward creating resilience for businesses and their customers. While only three percent of U.S. businesses think they have proper IT protections and infrastructure in place, this self-awareness puts them in the driver’s seat to address their cyber vulnerabilities.”

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eayers@advisen.com'

Erin is an editor at Advisen. She has 15 years of journalism experience. Prior to Advisen, Erin covered property-casualty insurance for 13 years as editor-in-chief of The Standard, New England’s Insurance Weekly. Erin is based in Boston, Mass. Contact Erin at eayers@advisen.com.