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Hiscox's second annual Cyber Readiness report found that 7 out of 10 companies fail to be ready to face a cyber attack. (Photo: Shutterstock)

American businesses may not be as cyber-ready as they think, according to research from Hiscox’s second annual Cyber Readiness Report.

According to the study, 7 out of 10 firms globally fail to prepare for a cyber attack, despite 69% of companies ranking the threat of a cyber-attack as a top risk to their businesses alongside fraud. The report also found that large U.S. businesses lose an average of $1.05 million to cyber crime annually.

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Danielle Ling

Danielle Ling is an experienced video journalist and business reporter. As associate editor, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. A University of Maryland and Philip Merrill College of Journalism alum, Danielle previously served as a video journalist for Verizon FiOS 1 News NJ, Push Pause. Connect with Danielle on LinkedIn or email her at [email protected].

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