Forbes March 17, 2025
Cyber threats and breaches are continuing to skyrocket for all organizations, but companies with over $100 million in revenue are seeing the largest uptick, according to an October 2024 report from the National Association of Insurance Commissioners (NAIC). In 2023, there was a 20% increase in the number of cyber insurance claims and a 72% increase in claims severity compared to the second half of 2022.
Small business owners, however, also can’t afford to ignore cyber threats, especially as the cost and technical sophistication needed to manage cybersecurity continues to grow. As we see more adoption of cloud services by smaller businesses, for instance, it has materially expanded the attack surface, requiring stricter controls and continuous monitoring.
Likewise, the transition...
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