Cyber attacks: '80%' of ransomware victims pay up
undefined 30, 2025
A Hiscox report shows 80% of firms hit by ransomware in the past year paid up, yet only 60% recovered data and nearly a third faced further demands. Of 5,750 SMEs surveyed, 27% suffered ransomware attacks, with almost 60% reporting some cyber incident. High-profile cases like JLR, M&S, and the Co-op highlight risks, with damages reaching hundreds of millions. Hiscox warns cyberattacks threaten business survival, pushing growth in costly cyber insurance despite gaps in data protection.
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