95% of Small Businesses Lack Cyber Security Insurance: Survey

May 4, 2015

Cyber SecurityA whopping 95 percent of small businesses in a new survey said they lack cyber security insurance, even as a large majority view the issue as a huge concern. At the same time, less than half have actually sunk any money over the last 12 months into protecting themselves, according to a new survey.

Those are the main findings of Endurance International Group’s 2015 Small Business & CyberSecurity survey, which polled 1,016 U.S.-based small businesses (companies employing 10 or fewer full/part-time people).

Endurance CEO and Founder Hari Ravichandran said that the results are telling.

“Cyber attacks aren’t just about targeting big business,” Ravichandran said in prepared markets. “In our current environment, it’s not a question of if your business will be targeted, but when. This should be a wake-up call to both lawmakers and the small business community that we must remain vigilant in protecting against these cyber threats.”

Here are some of the specific survey results:

All of the respondents were customers of Endurance, which provides web products for companies including web hosting, eCommerce and eMarketing services.

Source: Endurance International Group