A new report reveals the financial and reputational costs of cyber-attacks, with 13% facing lawsuits, 16% experiencing company devaluations, and 45% incurring unplanned expenses. Organizations are increasingly seeking cyber-insurance, with 62% having or planning to purchase a policy. Insurers are now demanding identity and access management tools, as privilege escalation complicates attacks
Phishing is the top attack vector, while cloud account compromise has risen. These breaches often result from phishing, brute force, or dark web credentials. The need for tightened security measures is emphasized to prevent serious financial and operational damages. ```https://www.infosecurity-magazine.com/news/lawsuits-company-devaluations/