[June 25, 2015] |
|
Cyber Insecurity: 4 in 10 Midsize Businesses Have Experienced A Data Breach
Most midsize business leaders view a data breach among their top risks
and a majority consider IT security 'very important' when selecting a
supplier, according to The
Hartford's survey of midsize business owners and C-level executives.
They have good reason to be concerned: 43 percent had experienced a data
breach in the prior three years, and 13 percent have had a supplier's
data breach impact their business information.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20150625005660/en/
The Hartford survey found most midsize business leaders (82 percent)
consider a data breach at least a minor risk to their business. Nearly
one-third (32 percent) view it as a major risk.
"All types of businesses have networks and networks can be vulnerable to
a breach," said Joe Coray, vice president of The Hartford's Technology &
Life Science Practice. "As we have seen in recent years, a breach
involving a supplier or vendor can impact a business as much as a breach
of its own IT systems. Whether businesses are hosting their data
internally or entrusting it to external business partners, it is
important that they validate how their information is being secured."
Recognizing the data risks involving suppliers, more than half of the
midsize business leaders (53 percent) surveyed consider IT security and
data protection practices very important when selecting a supplier. By
comparison, 36 percent consider a supplier's contingency planning and 28
percent view a supplier's location relative to their business as very
important.
"Given what is at stake in terms of a company's operations and
reputation, evaluating a prospective supplier or vendor's IT security
and data protection protocols against current best practices should be a
critical part of a company's due diligence process," said Coray, who
discusses data breaches and other technology risks for midsize
businesses at www.thehartford.om/midsizemonitor.
For information about protecting businesses from data-related risks,
visit http://www.thehartford.com/data-breach-insurance/
Survey Methodology
The Hartford's 2014 Midsize Business Monitor was fielded from
September 16-23, 2014. More than 500 owners and C-level executives of
midsize businesses headquartered in the U.S. with annual sales or
revenues of $10 million to $1 billion participated in the online survey,
which had a margin of error of +/- 4.3 percent at the 95 percent
confidence level.
More information about this survey, including an executive
summary and infographics,
is available at www.thehartford.com/midsizemonitor.
About The Hartford
With more than 200 years of expertise, The Hartford (NYSE: HIG) is a
leader in property and casualty insurance, group benefits and mutual
funds. The company is widely recognized for its service excellence,
sustainability practices, trust and integrity. More information on the
company and its financial performance is available at www.thehartford.com.
Join us on Facebook (News - Alert) at www.facebook.com/TheHartford.
Follow us on Twitter (News - Alert) at www.twitter.com/TheHartford.
HIG-M
Some of the statements in this release may be considered forward-looking
statements as defined in the Private Securities Litigation Reform Act of
1995. We caution investors that these forward-looking statements are not
guarantees of future performance, and actual results may differ
materially. Investors should consider the important risks and
uncertainties that may cause actual results to differ. These important
risks and uncertainties include those discussed in our 2014 Annual
Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the
other filings we make with the Securities and Exchange Commission. We
assume no obligation to update this release, which speaks as of the date
issued.
From time to time, The Hartford may use its website to disseminate
material company information. Financial and other important information
regarding The Hartford is routinely accessible through and posted on our
website at http://ir.thehartford.com.
In addition, you may automatically receive email alerts and other
information about The Hartford when you enroll your email address by
visiting the "Email Alerts" section at http://ir.thehartford.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150625005660/en/
[ Back To Homepage ]
|