The average cost of a cybersecurity incident ranged from $35,967 for U.S. companies with99 employees or fewer to $102,314 for companies with 1,000employees or more, according to the Hiscox CyberReadiness Report 2017. The report is compiled from a survey ofmore than 3,000 executives, departmental heads, IT managers andother key professionals in the U.S., the U.K. and Germany.

The report found that U.S. firms are the most likely toexperience an attack, with 72 percent of larger businesses and 68percent of smaller companies reporting a cyber incident in the pastyear.

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Shawn Moynihan

Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].