Cyberattacks in Ireland Take Heavy Toll on Employees and Businesses, Hiscox Research Finds
A recent survey by insurance provider Hiscox reveals that cyberattacks on Irish businesses over the past year have inflicted significant human and financial costs beyond technical disruptions. Of 500 companies surveyed, 40% reported experiencing a cyberattack in the last 12 months, with lasting effects on employee well-being and organizational resilience.
The fallout extended far beyond system breaches. 25% of employees described their workplace as "toxic" post-attack, while 31% reported burnout and 33% cited high stress levels. Increased sick leave (23%) further strained operations, underscoring the psychological and operational strain on staff often referred to as the "human firewall." Despite these challenges, 38% of businesses observed heightened employee loyalty, and 33% noted improved camaraderie, suggesting that well-managed crises could foster resilience.
Financially, the impact was severe. 31% of affected companies reported material damage to their financial health, while 28% struggled to attract new customers. DDoS attacks where attackers overwhelm servers to force systems offline accounted for 36% of incidents, disrupting operations. Ransomware remained a persistent threat, with 70% of targeted businesses paying ransoms to prevent data leaks. However, outcomes were often poor: 35% still had to rebuild systems despite receiving decryption keys, and 29% saw their data leaked regardless.
AI emerged as both a risk and an asset. 62% of businesses identified third-party AI tool vulnerabilities as a major emerging threat, yet 66% viewed AI as more beneficial than dangerous. In response, 42% plan to invest in AI-related security measures, and 38% are ensuring cyber insurance policies cover AI risks. Despite persistent threats, 56% of companies believe their cyber resilience has improved over the past year, with 25% planning significant investments in cybersecurity and data protection in the coming year.
Hiscox Ireland’s Stephen Donaldson emphasized the need for proactive planning, noting that while ransomware payments often fail to deliver promised recoveries, preparation and incident response strategies remain critical to mitigating long-term damage. The findings highlight the dual challenge of defending against evolving cyber threats while safeguarding workforce stability.
Hiscox Ireland cybersecurity rating report: https://www.rankiteo.com/company/hiscox-ireland
"id": "HIS1774463488",
"linkid": "hiscox-ireland",
"type": "Cyber Attack",
"date": "3/2025",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization's existence"{'affected_entities': [{'location': 'Ireland', 'type': 'Businesses'}],
'data_breach': {'data_encryption': 'Ransomware victims had data encrypted',
'data_exfiltration': '29% of ransomware victims saw data '
'leaked despite paying ransom'},
'description': 'A recent survey by Hiscox reveals that cyberattacks on Irish '
'businesses over the past year have inflicted significant '
'human and financial costs, including employee burnout, '
'financial damage, and operational disruptions. DDoS attacks '
'and ransomware were prominent threats, with many businesses '
'paying ransoms despite poor outcomes. AI vulnerabilities and '
'benefits were also highlighted, alongside improvements in '
'cyber resilience.',
'impact': {'downtime': 'Disrupted operations due to DDoS attacks',
'financial_loss': 'Material damage to financial health (31% of '
'affected companies)',
'operational_impact': 'Increased sick leave (23%), strained '
'operations',
'revenue_loss': 'Struggled to attract new customers (28%)'},
'lessons_learned': 'Proactive planning and incident response strategies are '
'critical to mitigating long-term damage. Ransom payments '
'often fail to deliver promised recoveries, and AI '
'vulnerabilities pose emerging risks.',
'post_incident_analysis': {'corrective_actions': ['Improved cyber resilience '
'(56% of companies believe '
'it has improved)',
'Investment in AI-related '
'security measures',
'Enhanced cyber insurance '
'coverage for AI risks'],
'root_causes': ['Third-party AI tool '
'vulnerabilities (62% of '
'businesses identified as a major '
'threat)',
'Lack of proactive incident '
'response planning']},
'ransomware': {'data_encryption': True,
'data_exfiltration': True,
'ransom_paid': '70% of targeted businesses paid ransoms'},
'recommendations': ['Invest in AI-related security measures (42% of '
'businesses planning to do so)',
'Ensure cyber insurance policies cover AI risks (38% of '
'businesses)',
'Significant investments in cybersecurity and data '
'protection (25% of businesses planning)'],
'references': [{'source': 'Hiscox Research'}],
'response': {'recovery_measures': 'Rebuilt systems (35% of ransomware '
'victims)'},
'title': 'Cyberattacks in Ireland: Human and Financial Toll on Businesses',
'type': ['DDoS', 'Ransomware'],
'vulnerability_exploited': ['Third-party AI tool vulnerabilities']}