In a distributed denial-of-service (DDoS) cyberattack, a cybercriminal attempts to interrupt an online service by flooding it with fake traffic. During a DDoS attack, a network of infected computers overwhelms a victim’s IP address with requests. The goal is to exceed the capacity limits of their websites, servers and networks, resulting in a halt of services.
DDoS attacks are classified as network and website disruption losses in Advisen’s database. From 2011 to 2021, network and website disruption losses increased 550%, according to Advisen data, a concerning trend as these events can also be quite costly for the victim. In fact, one research group found the average cost of a DDoS attack is $218,000.
Review this cyber report to understand what’s driving the increased frequency of DDoS attacks, the industries most impacted (according to Advisen data), and tips for avoiding becoming the next victim.
If you have any questions about cyber insurance or your other business insurance needs, please contact our Johnson City insurance office at (423) 292-4142! We will work with you to make sure you and your business are protected.
