CYBER RISK

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.

 

 

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