Note: The Risk Matrix is produced by the Risk and Insurance® editorial team. Liberty Mutual Insurance is the presenting sponsor and has no responsibility for the content.
frequency
impact
Lost Customer Relationships
Some sectors, including the financial industry, are especially vulnerable to customer dissatisfaction following a breach. Besides lost revenue, a cyber incident can cost a company long-standing relationships that have taken years to build.
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impact
Business Interruption
Property Damage & Pollution Liability
Reputational Harm
Lost Customer Relationships
Legal Costs & Fines
Hardware & Digital Asset Losses
frequency
Whether caused by phishing, malware, denial of service, or another form of attack, business interruption due to a cyber event can result in significant downtime and losses of productivity, sales, and income.
Business Interruption
High impact
Low frequency
Low impact
High frequency
Stolen
Intellectual Property
Business Email Compromise and Payment Fraud
Note: The Risk Matrix is produced by the Risk and Insurance® editorial team. Liberty Mutual Insurance is the presenting sponsor and has no responsibility for the content.
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Whether caused by phishing, malware, denial of service, or another form of attack, business interruption due to a cyber event can result in significant downtime and losses of productivity, sales, and income.
Business Interruption
Class action lawsuits related to data breaches rose 46% last year to over $700M. Cyberattack-related lawsuits, regulatory action defense and fines now cost large companies more than $3 million on average.
Legal Costs & Fines
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A highly publicized cyberattack can
damage a company’s reputation in
several ways — such as eroding customer trust and even lowering its stock market price. Responding thoughtfully and immediately to cyber events can help mitigate these negative impacts.
Reputational Harm
Remote-controlled equipment gives
cyber saboteurs a way to destroy property from afar, potentially creating pollution hazards that affect the environment and human health.
Property Damage & Pollution Liability
Cyberattacks can result in lost or
damaged digital files as well as hardware failure, which can lead to disruptions and financial losses.
Hardware & Digital Asset Losses
For some industries, such as life sciences, technology, and defense, losing corporate secrets can compromise a firm’s competitive advantage, and illegally unlocked products can significantly impact a company’s bottom line.
Stolen
Intellectual Property
Ransomware payments fell by over
40% to $457M in 2022 as businesses increasingly refuse to pay ransom demands.
Ransom Payments
In 2022, the FBI’s Internet Crime Complaint
Center (IC3) received 21,832 business email compromise (BEC) complaints with adjusted losses totaling over $2.7 billion.
Business Email Compromise and Payment Fraud
According to a 2022 report, companies spent an average of $110k on services associated with responding to breach incidents; for large companies, the average is $4.1M. Having an incident response
team and regularly tested plan can reduce total data breach costs by as much as 50%.
Incident Response Costs
Incident Response Costs
Low impact
Low frequency
Some sectors, including the financial industry, are especially vulnerable to customer dissatisfaction following a breach. Besides lost revenue, a cyber incident can cost a company long-standing relationships that have taken years to build.
Lost Customer Relationships
High impact
High frequency
Class action lawsuits related to data breaches rose 46% last year to over $700M. Cyberattack-related lawsuits, regulatory action defense and fines now cost large companies more than $3 million on average.
Legal Costs & Fines
High impact
High frequency
Learn More
Remote-controlled equipment gives cyber saboteurs a way to destroy property from afar, potentially creating pollution hazards that affect the environment and human health.
Property Damage & Pollution Liability
A highly publicized cyberattack can damage a company’s reputation in several ways — such as eroding customer trust and even lowering its stock market price. Responding thoughtfully and immediately to cyber events can help mitigate these negative impacts.
Reputational Harm
High impact
Low frequency
For some industries, such as life sciences, technology, and defense, losing corporate secrets can compromise a firm’s competitive advantage, and illegally unlocked products can significantly impact a company’s bottom line.
Stolen Intellectual Property
High impact
High frequency
Cyberattacks can result in lost or damaged digital files as well as hardware failure, which can lead to disruptions and financial losses.
Hardware & Digital Asset Losses
Low impact
Low frequency
Ransomware payments fell by over 40% to $457M in 2022 as businesses increasingly refuse to pay ransom demands.
Ransom Payments
Low impact
High frequency
In 2022, the FBI’s Internet Crime Complaint Center (IC3) received 21,832 business email compromise (BEC) complaints with adjusted losses totaling over $2.7 billion.
Business Email Compromise and Payment Fraud
According to a 2022 report, companies spent an average of $110k on services associated with responding to breach incidents; for large companies, the average is $4.1M. Having an incident response team and regularly tested plan can reduce total data breach costs by as much as 50%.
Incident Response Costs
Low impact
High frequency
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Ransom Payments
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