Cyber crime is an already an enormous threat to virtually every company worldwide, and it’s growing.
In 2015, the cost of ransomware damage was $325 million.
In 2017, the cost of ransomware damage was $5 billion.
That is 15X in two years!
Projected annual cybercrime damage by 2021 is $6 trillion.
Let’s put that number in perspective.
$6 trillion is:
- $55 for every dollar of Jeff Bezos’ net worth in January 2018 ($108.9 billion)
- $765 for every person on earth in 2021 (projected population 7.837 billion)
- $8,112 for every person in Europe in 2021 (projected population 739 million)
- $17,863 for every person in the US in 2021 (projected population 336 million)
- $139 million for every company listed on stock exchanges worldwide in 2016 (43,192 according to the World Bank)
Over 75% of the health care industry had been infected with malware in 2016.
Only about 10% of companies had cyber insurance in 2017, which is why cyber insurance is the fastest-growing segment of the insurance industry.