Nearly Half of Global Cyber Attacks Target Small Companies, Says Cyber Insurance Expert

Out of all the cyber attacks that occur on a daily basis, 42% target small companies, Dafna Lotan Medvejer, a partner at law firm Goldfarb Seligman & Co., said in a recent interview with Calcalist.

The main targets for cyber attacks are government entities, large healthcare organizations and other companies holding a wealth of private data, financial institutions, and, most surprisingly—small businesses, Lotan Medvejer said. Most companies have not yet internalized the need to purchase cyber insurance, she said.

Cyber insurance insures companies against damages caused to their clients due to a cyber attack, and also against damages caused to the company itself, Lotan Medvejer explained.

Globally, companies spend billions of dollars to repair damages caused by cyber attacks, she said.