Hanover Specialty Research Series
Cyber Risk Report
Our survey, conducted with Zogby Analytics, found that businesses understand the message about the significant exposure they have to cyber incidents – and are taking steps to protect themselves. Business decision makers revealed that independent agents have played a significant role in building broad awareness about the importance of cyber protection and, as a result, a majority of business report they:
- Have cyber insurance
- Feel confident about their coverage
- Have taken steps to mitigate cyber risk within their organizations
However, cyberattacks are on the rise.1 As cyberattacks become more frequent and more complex, businesses – even those with some cyber protection in place – face several emerging risks they may not be aware of. As a result, they may lack the protection they need to stay in business.
surveyed reported experiencing a cyberattack in the last year.
About The Hanover
The Hanover is a leading property and casualty insurance company offering a broad portfolio of tailored coverage solutions for personal, commercial and specialty customers. The Hanover is a Fortune 1000® company, with nationally recognized claims service and proactive risk management expertise. The company's financial strength has earned it high marks from key industry analysts, including an "A" rating (Excellent) by A.M. Best Company.
The Hanover's holistic suite of cyber solutions is designed to help protect companies that use technology and those who create it from losses related to data breaches and cyberattacks. The Hanover offers four holistic cyber solutions, access to a resource-filled cyber portal and a panel of 10+ cyber incident response partners standing by to help limit the impact of an event. Our endorsement and standalone cyber solutions offer the robust protection, risk management tools and attack repsonse services businesses need to keep pace with the changing threatscape and minimize the effects of an attack.
About Zogby Analytics
Zogby Analytics is respected nationally and internationally for its opinion research capabilities. Since 1984, Zogby has empowered clients with powerful information and knowledge critical for making informed strategic decisions.
The firm conducts multi-phased opinion research engagements for banking and financial services institutions, insurance companies, hospitals and medical centers, retailers and developers, religious institutions, cultural organizations, colleges and universities, IT companies and federal agencies. Zogby's dedication and commitment to excellence and accuracy are reflected in its state-of-the-art opinion research capabilities and objective analysis and consultation.
About this report
Zogby Analytics conducted an online survey of business decisions makers nationwide to assess their current coverage, understanding of cyber exposures, impact of an attack and risk mitigation actions. The Hanover was not identified as a participant or sponsor of the survey.
Press contacts
Emily P. Trevallion
etrevallion@hanover.com
508-855-3263
Abby M. Clark
abclark@hanover.com
508-855-3549
12019 Global State of Cybersecurity in Small and Medium-Sized Businesses
2Carbon Black 2019 Global Incident Response Threat Report
3NetDiligence® Cyber Claims Study 2019 Report