(Credit: Nationwide) (Credit: Nationwide)

When it comes to cyber preparedness, less than half of small business owners feel ready to prevent an attack and just 28% of these businesses reported having cyber insurance.

ALM Small Business Adviser logoThat’s according to a report from Nationwide, which also found that 40% of small business owners believe a cyberattack would cost less than $1,000. Further, 60% said it would take fewer than three months to fully recover after an attack. Nationwide reported cyber claims typically see between $15,000-$25,000 in recovery costs and the average recovery time is slightly longer than nine months.

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