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The Data Loss Dilemma: 20% of Companies Can’t Rebuild Their Data ‘Homes’ After a Cyberattack

Posted on December 6, 2024December 6, 2024 By Martin Hinton

A new report from data management firm NetApp reveals that one in five companies—20 percent—fail to regain data lost as a result of a cyberattack, a scenario as devastating as a flood in which one in every five damaged homes is never rebuilt, leaving their owners with no option but to start over from scratch. This finding exposes a serious shortcoming in current cybersecurity and data recovery strategies and highlights the risk of data loss.

The study, titled “Cloud, Complexity, AI: The Triple Threat Demanding New Cyber Resilience Strategies,” surveyed more than 1,300 cybersecurity leaders worldwide. Over half of the organizations polled (54 percent) admitted experiencing a cyberattack in the past year. Rather than ransomware, misconfiguration and cloud storage vulnerabilities emerged as the leading concerns.

“This survey shines a light on the critical need for visibility and data-centric strategies,” said Daniel Newman, CEO at The Futurum Group. “By adopting intelligent data infrastructure solutions, organizations can better protect their assets, ensure swift recovery, and thrive amid ongoing disruptions.”

Our takeaways follow; you can access the whole report here.

Clouds Demand Scrutiny

The report finds that hybrid multi-cloud environments pose substantial risks. Misconfigurations and vulnerabilities now top the list of threats, often leading to data loss. Even surpassing ransomware. Experts say addressing these issues is essential for maintaining uninterrupted operations.

Tool Overload Hinders Cyber Resilience

Seventy percent of respondents reported using more than 40 separate cybersecurity tools, and 84 percent believe this widespread tool sprawl makes it harder to achieve and maintain cyber resilience. Streamlining these tools into a more coherent approach could simplify defenses and improve response times, reducing the chances of data loss.

AI Takes on a Bigger Role

Forty percent of surveyed organizations currently use artificial intelligence to detect threats, and many plan to expand its role in automating response and recovery. However, leaders emphasize the need for careful oversight to avoid false positives and maintain human judgment in critical decision-making.

Data Classification Boosts Recovery Efforts

Organizations with good data classification practices, not surprisingly, recover more effectively following an attack. Properly identifying and organizing data is a key factor in ensuring that critical information can be quickly restored.

Image of NetApp Company Logo
Cybersecurity Budgets on the Rise

With cyberattacks becoming more expensive and more complex, over 90 percent of businesses expect to invest more in cybersecurity in the next year. Leaders want to spend on integrated, proactive approaches that streamline, protect data, and build resilience.

Recommendations

According to the report, enterprises must move towards intelligent data ecosystems, AI-based threat management, and advanced data classification in order to build stronger defenses. As attacks become more frequent, those companies that focus on resilient architectures and optimized tools will have the greatest chance of safeguarding their systems and recovering sooner from an attack.

Other News: 1/3 of Ransomware Victims Did Not Recover Data Even After Paying Up(Opens in a new browser tab).

Other News: U.S. officials urge Americans to use encrypted apps amid unprecedented cyberattack.

Martin Hinton

Martin Hinton is the Executive Editor and Publisher of Cyber Insurance News and Information. With over three decades of journalism experience across six continents, his work encompasses investigative reporting, documentaries, and coverage of cultural, political, and business news. To learn more about his career, click on his name to visit his LinkedIn page.

Cybersecurity, Cybersecurity Report Tags:“Cloud, cloud, Cloud Security, Complexity, cyber insurance, cyber liability insurance, Cybersecurity, Data Backup, Data Backup Strategies, Data Breach, data breach insurance, data loss, NetApp, Ransomware

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In this clip from our latest podcast episode, Dan Candee, CEO of Cork Protection, dives into a critical topic that hits close to home: Cybersecurity for Main Street businesses.

🛡️ With a background in enterprise-level cybersecurity on Wall Street and a personal connection to small business through his family, Dan shares why Cork focuses on protecting small and mid-sized businesses from rising cyber threats.

🚨 "The threat actors are getting better, and they're coming after Main Street more and more."

👉 Discover why Main Street is being underserved in today's digital threat landscape and how Cork is filling that gap with a unique value proposition.

🔗 Learn more about Cork: corkinc.com
🎧 Full Podcast Episode: www.youtube.com/@CyberInsuranceNews/podcasts

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#Cybersecurity #SmallBusiness #MainStreet #DanCandee #CorkProtection #TechForGood #SMBs #PodcastClip #CyberThreats #BusinessSecurity
Cybersecurity for Main Street: Dan Candee on Protecting Small Businesses | CEO of Cork Protection
SMB Cyber Threats - In this episode of the Cyber Insurance News Podcast, host Martin Hinton talks with Dan Candee, CEO of Cork Protection, about the rising tide of cyber threats targeting small and mid-sized businesses (SMBs). Dan shares his journey from Main Street entrepreneur to cybersecurity leader, offering real-world insight into the threat landscape, financial vulnerabilities, and how AI and managed service providers (MSPs) can help fortify business resilience.

We explore:
• Why Main Street is more vulnerable than Wall Street
• Common SMB cybersecurity blind spots (like ACH fraud)
• The evolving role of managed service providers
• How Cork Protection blends cybersecurity and cyber insurance
• Real-world attack case studies and practical advice for SMBs

Whether you’re a small business owner, MSP, or cyber pro, this episode unpacks how to prepare, prevent, and protect your organization in today’s digital world.

📌 Topics: cybersecurity, cyber insurance, social engineering, SMB protection, ransomware, AI in security, MSPs

🎙 Guest: Dan Candee, CEO of Cork Protection
📢 Host: Martin Hinton, Executive Editor, Cyber Insurance News

👉 Don’t forget to like, comment, and subscribe for more insights on cyber insurance and digital defense!

#CyberSecurity #CyberInsurance #SMB #AI #CyberPodcast #BusinessResilience #smallbusiness #sme
00:00 Introduction - Dan Candee and Cork Protection
02:27 The Importance of Cybersecurity for Small Businesses
05:29 Understanding Cyber Threats and Their Impact
08:26 The Role of Managed Service Providers in Cybersecurity
11:24 24Financial Protection and Cyber Insurance Solutions
14:01 Leveraging AI in Cybersecurity
16:53 Navigating Cyber Insurance Policies
19:56 Empowering Small Businesses with Knowledge
21:52 The Future of Cybersecurity and Community Resilience
26:05 MSP/ MSSP The Lingo decoded
29:05 Finals Thoughts and a bit of Hope!
SMBs Are Cyber Targets | Dan Candee on Cyber Resilience & AI | Cyber Insurance News Podcast EP#6
Cyberattack on Small Business is on the rise—and AI is making it worse. In this episode of the Cyber Insurance News Podcast, host Martin Hinton sits down with William Altman of CyberCube to unpack how AI is enabling threat actors to more efficiently target and exploit small businesses.

🔐 From credential stuffing to brute force attacks, William explains how cybercriminals use AI to bypass login portals and MFA solutions—putting millions of small business owners at risk.

🎙️ Timestamps:
0:00 - Introduction
6:26 - William Altman on AI and threat actors
6:50 - Credential stuffing, brute force & reused credentials
10:00 - What small businesses can do right now
14:20 - The future of AI in cybercrime

🎧 Don’t miss this crucial update on the cybersecurity landscape for small businesses. Subscribe and stay informed.

#cyberattack #smallbusiness #AI #cybersecurity #CyberCube
Cyberattack on Small Business: How AI Supercharges Cyber Threats | William Altman @CyberCube"
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