Sophos, a global leader of innovative security solutions for defeating cyberattacks, has released its findings from its recent survey, titled:"Cyber Insurance and Cyber Defenses 2024: Lessons from IT and Cybersecurity Leaders."
The survey also revealed that recovery costs from cyberattacks are outpacing insurance coverage. Only one per cent of those that made a claim said that their carrier funded 100 per cent of the costs incurred while remediating the incident. According to The State of Ransomware 2024 survey, recovery costs following a ransomware incident increased by 50 per cent over the last year, reaching $2.73 million on average.
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