Cyber Risk Report
Hanover Specialty Research Series

Evolving exposures

Businesses are not focused on emerging risks

Business decision-makers are concerned with traditional cyber exposures, yet our report found that the exposures they face continue to evolve as the world becomes increasingly connected and complex. 


named breach of personal information as their top cyber security concern, yet only


of respondents suffered or were made aware of a breach of personally identifiable information over the last 12 months


of respondents reported being concerned about supply chain risk, yet


reported being dependent on third parties or outsourcing

The following graphs detail the top cyber security concerns business reported facing today and the incidents or attacks they reported suffering or have been made aware of over the past 12 months.

Top cyber security concerns

Cyber security concerns bar graph


Top cyber incidents reported

Cyber incidents report bar graph


Beware of malware

While data privacy concerns continue to dominate the headlines, concern about malware attacks, and more specifically ransomware, continues to grow. In fact, ransomware is the most frequent cause of lost business income and the most frequently-cited cause of recovery expense.5 During the past year, more than half of surveyed business decision-makers reported having experienced a malware-related attack or event. 


Transmission of malware to a third party


Ransomware attack


Other malware attack

New cyber threats emerge every day. We're concerned that while businesses have protected themselves from widely-publicized risks such as data breaches, they are not adequately protected from emerging exposures. Half of today's attacks employ "island hopping," where attackers go after a company's network and all the networks along its supply chain. 

Danielle Goulet, Chief Information Security Officer


5NetDiligence Cyber Claims Study 2019 Report