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17 percent of SMEs consider themselves too small to be hacked: Zurich | Canadian Insurance
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17 percent of SMEs consider themselves too small to be hacked: Zurich

Survey respondents ranked data loss and reputation damage as the biggest cyber risks

The biggest threat from cyber crime is loss of customer data, 28 percent of SMEs said in a Zurich survey. Sixteen percent of respondents ranked reputation damage as the most significant risk.

Nevertheless, 17 percent of SMEs consider themselves to be too small to attract hackers’ attention. This view doesn’t consider that bigger companies likely have better security and will be harder to attack, rendering SMEs low-hanging fruit.

More and more organizations are buying cyber insurance, with Zurich seeing a 26 percentage point increase between 2011 and 2015.