Protect Your Business with Cyber Liability Insurance
Cyber insurance is designed to help your business recover in the event of a data breach or cyber attack.
In the U.S., more than two-thirds (71%) of organizations were hit by a cyberattack last year.
While attacks on big, household brand names make headlines, it is often the small and medium-sized businesses that are victims of cyberattacks. Employees of small organizations are more likely to be hit by email threats, including spam, phishing, and email malware, than larger organizations.
Cybercrime Can Shut Down Business
Some cybercrimes, like ransomware, can lock up your organization’s computers and prevent employees from getting to work until a ransom is paid. Other cyberattacks can lead to lost income, mounting recovery costs, and costly systems and data recovery. Failing to protect third-party information, such as your clients’ personal information, can also result in expensive litigation.
These inconveniences and business interruptions may be temporary, but for some companies, the high cost of a cyberattack could lead to a permanent shutdown.
60% of small and midsized businesses that are hacked go out of business within six months.
Cyber Liability Insurance Helps Your Business Survive a Cyberattack
Cyber liability insurance helps cover the costs associated with a cyberattack, data breach, or hack, which may include:
- Systems and data recovery
- Computer restoration
- Third-party customer notification
- Restoring personal identities
- Credit monitoring
- Lawsuits and legal fees
- PR nightmares
Cyber insurance can cover risks to you and your business (first-party coverage), as well as risks to your customers or partners (third-party coverage) who may be affected as a result.
Who Needs Cyber Insurance?
Cybercrime affects businesses of every size across every industry. If you store or process sensitive information like customer names, credit card or banking information, addresses, phone numbers, email addresses, physical addresses, or medical records, then you can benefit from the safety net of cyber insurance.
Cyber insurance benefits:
- Contractors/ construction industry
- Financial firms
- Healthcare companies
- Lenders and loan agents
- Marketing companies
- Real estate agents
- Web designers and developers
- and many, many more
Don’t Be a Statistic
Cybercrime pays off big for criminals—which is why instances of cybercrime continue to increase every year. Just 10 credit cards stolen from compromised websites can yield up to $2.2 million for cybercriminals each month.
Don't become a statistic.
Protect your business today.
Discover the ways cyber liability insurance can help protect your business. Simply complete the form above or call us at (800) 579-6369.