Ransomware. Malware. Phishing. These are all forms of cyber-attacks that can leave your company with major financial and reputational losses. How can you protect yourself? You may think, “I’m not a huge corporation like the companies I see getting breached on the news, I’m not big enough to need cyber.” However, if you or companies you work with handle sensitive information of any kind, you’ll want to seriously consider it.
The 2013 target breach that exposed millions of consumer credit cards occurred because first an HVAC contractor working on Target’s stores was hacked, the attackers using access credentials the contractor had to get into Target’s systems and thereby gain access to their Point-of-Sale (POS) machines. Total cost is nearing $300 million.
This shows that businesses have reason to protect against cyber-attacks, not just based on their own data’s value, but also the value of the customers and companies they do business with. Many smaller businesses are now breached so attackers can go through them to attack their customers’ systems. How much are your customers worth?
Cyber Insurance will help you to not lose your business in the event of a breach. It can protect you from damages resulting from:
- Cyber and Privacy Liability
- Business Interruption
- Reputational Harm
- Ransomware Attack
Cyber insurance is still a new field, so it can be daunting to try and find a policy that fits your company’s needs. Give our team a call, and we can use our dedicated cyber program to make sure you have the coverage your company will benefit from most.