Despite improving preparedness, US small businesses are still highly vulnerable to cyber incidents. A recent report by Hiscox USA indicates that while the small business segment paid less to respond to a cyber incident this past year, it was offset by increased attacks and breaches.
In its annual cyber readiness report, Hiscox revealed the median cost of cyber-attacks decreased for small businesses in the US from $10,000 in 2022 to $8,300 in 2023. At the same time, the median number of attacks
