From 2005 til July, 2016: There have been a total of 6,333 reported data breaches, involving 864,236,208 compromised records!
46 states and the District of Columbia have laws requiring the notification of customers following a data breach. (These notification costs can be covered under a cyber liability insurance policy.)
The average cost of a data breach in 2013 in the United States was $158 per breached record. (Number of records you have X $158 = how much you could lose without a cyber liability policy in place.)
The top causes of data breaches were malicious or criminal attacks (37%), human error (35%), and system glitches (29%).
Of more than 500 data breaches investigated, more than halfrequired no skill, or only alow degree to perpetrate. Run-of-the-mill security tools and precautionscould have prevented them.
"It is clear that targeted attacks—hypothetical just a handful of years ago—are a significant reality today"
Following a data breach of confidential records, numerous businesses have filed bankruptcy due to the financial burden. (If these businesses had a cyber liability insurance policy, they still might be operating today.)
*Statistics courtesy of: --2008 CSI Computer Crime & Security Survey, by Robert Richardson, CSI Director. Used with authorization. --http://datalossdb.org/statistics --Ponemon "2013 Cost of Data Breach Study": http://www.ponemon.org/library --http://netdiligence.com/ --http://www.idtheftcenter.org/id-theft/data-breaches.html --http://www-03.ibm.com/security/data-breach/