Cyber 2020

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

Dafna Lotan Medvejer, a partner at law firm Goldfarb Seligman, spoke to Calcalist about the rising need for cyber insurance

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.

Dafna Lotan Medvejer. Photo: PR

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.