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Cyber-attacks Cost Small US Businesses $25k Annually - Infosecurity Magazine


Cyber-attacks Cost Small US Businesses $25k Annually
Cyber-attacks are leaving small businesses in the United States with big dents in their annual budgets, according to new research by international insurance company Hiscox.
Data analyzed in the creation of the Hiscox Cyber Readiness Report 2021 revealed that the average financial cost of a cyber-attack to a small business in the US over 12 months is high at $25,612.
The annual report, which was first published five years ago, surveys over 6,000 professionals from the US, UK, Belgium, France, Germany, the Netherlands, Spain, and Ireland who are responsible for their company’s cybersecurity. 
Respondents completed the online survey between November 5, 2020, and January 8, 2021. ....

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Hiscox Q1 Overall Growth Offsets U.S., Cyber Repositionings


Hiscox Q1 Overall Growth Offsets U.S., Cyber Repositionings
May 5, 2021
Hiscox Ltd reported gross written premiums up 6.3% to $1,256.6 million, with growth in Hiscox London Market, Hiscox Europe and direct and partnerships business more than offsetting planned reductions in the U.S. broker channel.
In Hiscox Retail, gross premiums up 8.6% in a challenging operating environment. That included UK Retail with premiums up 8.2%, reflecting strong renewals and growing customer numbers.
Hiscox Europe was up 20.4% led by Germany, Benelux and Iberia.
Hiscox London Market benefitted from favourable rate momentum, with rates up 13% across the portfolio and premiums up 9.3%.
The insurer said it has made good progress in repositioning its U.S. broker portfolio. ....

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Hiscox USA names new CEO as Langan heads back to the UK


Hiscox USA names new CEO as Langan heads back to the UK
26-04-2021
Hiscox, the international specialist insurer, has named a new chief executive officer for Hiscox USA.
Kevin Kerridge succeeds Steve Langan in the role, and will take up his post on May 15, 2021. Langan will return to the UK following a transition period, having run Hiscox USA for three years.
Kerridge joined Hiscox in 1996, creating its first direct online business in the UK, initially for home insurance and then for commercial clients.
In 2009 he relocated from London to New York to oversee the launch and development of Hiscox’s US digital small business operation which, from a standing start, now serves over 460,000 small business customers. ....

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