Alarming Insurance Gaps and Soaring Breach Rates Call for a United Front in Cybersecurity | HaystackID

A joint analysis by cybersecurity companies CYE and Surfshark reveals a critical requirement for robust cybersecurity measures as the U.S. leads in global data breaches and businesses face large insurance coverage gaps. A notable 80% of companies suffer from underinsurance, with average insurance coverage shortfalls of 350%. In Q1 2024, 90.4 million accounts in the U.S. were compromised. This data underlines a need for organizations to strengthen their cybersecurity and insurance tactics to avoid financial and operational damage from cyber-attacks.