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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 the wake of the Harrods hack and cyberattacks impacting other retailers, the alarming state of UK cybersecurity will be revealed in 2024. From cyberattacks hitting major UK retailers like Co-op and Harrods to small businesses struggling without protection, the message is clear—cybercrime is a national threat.

New research by Pen Underwriting reveals that while 90% of UK and Irish businesses feel secure, only 47% have dedicated cyber insurance. Even more shocking—only 18% of businesses earning under £1 million are covered. The cost isn’t just financial—real people suffer, like the couple who lost their wedding cake due to a ransomware attack.

Watch now to understand:

Why UK businesses are dangerously unprepared

How cyberattacks are more common than fires or theft

The key role of employee training, data backups, and multi-factor authentication (MFA)

Why cyber insurance is no longer optional

Visit www.cyberinsurancenews.org for the latest cyber insurance and cybersecurity updates.

#UKCybersecurity #CyberInsurance #SmallBusinessSecurity #CyberCrime
Harrods hack UK Cybersecurity Crisis: Shocking Stats, Real Victims & Business Risks. #cybersecurity
Cyber Insurance Compliance Is Reshaping Security in 2025!

Cyber insurance compliance is no longer optional—it's a driving force behind how companies build and execute cybersecurity strategies. In this video, we break down the latest insights from the 2025 State of Pentesting report:

✅ 59% of U.S. businesses now implement new security tools based on insurer recommendations
✅ 93% of CISOs are guided by mandates from insurance providers
✅ Pentesting isn't just for compliance—it's about proving you're covered and protected
✅ The average enterprise is spending $187,000+ annually on penetration testing

As premiums stabilize, cyber insurance compliance is pushing companies toward proactive, automated, and continuous risk assessment. Learn how to stay ahead, reduce exposure, and align with both regulators and insurers.

💡 Don’t forget to like, subscribe, and hit the bell to stay updated on the latest in cybersecurity and insurance trends!

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Cyber Insurance Compliance Is Reshaping Security in 2025 #cyberinsurance
In this video, we break down the massive cyber insurance settlements following the CDK Global ransomware attack that rocked the automotive industry. 🚗💻

Auto giants like Asbury Automotive Group reported up to $10 million in cyber insurance recovery, while AutoNation only recently filed their claim — months after the breach! We explore the financial disclosures, the delayed responses, and what this means for car dealerships, investors, and cybersecurity preparedness.

Learn:
✔️ How cyber insurance is shaping post-breach recovery
✔️ Why SEC filings like 10-Q and 8-K matter
✔️ What lessons other businesses can learn from this
✔️ The real cost of a ransomware attack in automotive retail

🔔 Subscribe for more deep dives into cybersecurity, tech, and industry trends!
#cyberinsurance #CDKGlobal #RansomwareAttack #AutoIndustry #CyberSecurityNews
$10M Cyber Insurance Payout: CDK Ransomware Fallout Hits Auto Giants | #cyberinsurance
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