Small Business Cyber Insurance
As of 2017…
- Web attacks were up 56%
- Ransomware attacks on small and medium sized business were up 12%
- 70% of businesses see an insider attack at some point, and at least 60% have seen one within the last 12 months
- 48% of infected email attachments are office files
- Of those attacked, 85% said it was hard to understand the full extent of the damages
- 4800 Websites were compromised monthly in search of payment information
Now, more than ever, it is important to be covered when it comes to cyber liability. Cyber-attacks can cost between $6,000 and $100,000 per incident. Hackers can be driven by fraud, money, intellectual property, sabotage and espionage. The aftermath of a breach can easily leave a small company bankrupt. Many small businesses are looking to outside contractors to help reduce their risk. To combat threats, they are using training, information security governance programs, monitored user activity and secondary authentication practices. If you wish to be covered, there are several options available for you.
Data Breach Coverage
Data breach coverage provides a suite of coverages and services that enable you to effectively respond to a breach of personal information. It includes coverages to monitor and notify affected individuals and protect the insured from liability.
Cyber Liability Coverage
Cyber liability coverage provides a number of coverages to help you respond to the threat of intrusion of or interference with your computer systems. It includes coverages that address damage to your data or systems from computer attacks, viruses, extortion and liability that arises from inadequate systems security.
Identity Recovery Coverage
Identity recovery coverage combines support service and expense reimbursement and is offered as an endorsement on commercial General Liability and Bis-Pak policies. The coverage includes a special level of support that greatly reduces the time burden on insured victim in the case of identity theft.
Don’t wait, all of use computers every day, we all have exposure. Sit down and discuss cyber liability insurance with your insurance agent today!