In a recent survey conducted by Narus, more than 55 percent of respondents said they are concerned that their company cannot fend off cyberattacks, while nearly 94 percent said they think cyberattacks are on the rise.
With cyberattacks seemingly growing by the day, tech companies need to invest in professional liability insurance, which can help them deal with potential problems such as loss of customer data.
"Each year, the cyber security survey yields results that consistently underscore the importance of real-time detection and analysis of network traffic," said Greg Oslan, CEO and president of Narus.
More results from the security survey showed about 65 percent of businesses are concerned with their inability to protect sensitive and confidential data, while 63 percent are worried about viruses and malware and 52 percent fear social media attacks.
With cybersecurity becoming a nationwide issue, graduate students at the University of Minnesota are enrolling in a security technologies program to help them fight such threats in the professional world. The program was created to supplement the need for more security professionals, reported Minnesota Daily.