Can you risk NOT having Cyber Insurance coverage?
Do You Know What a Data Breach Could Cost You?
Hint: It could be everything
WARNING The Results May Shock You
Sure, you might know that there are "some" monetary repercussions of suffering a data breach, like the costs associated with notifying the individuals involved, but what about the rest? Rely on word of mouth or referrals? Customers may not be so quick to refer a company that compromised their data.
Small and Medium-Sized Businesses at Risk
SMBs account for 43% of data breaches.
Lack of time, resources and education are three major factors that put small to medium-sized businesses (SMBs) at risk.
2019 Data Breach Investigations Report
83% of SMBs lack the funds to recover.
What's worse? A quarter of those who can't afford it didn't even realize there would be any recovery costs involved.
2018 InsuranceBee Cybercrime Survey
How to Calculate Your Cost
Enter the number of customers' data you have access to and choose between three types of data breaches:
Press "Calculate" to see what a breach could cost you! Hover over any of the associated costs to learn more.
Proactive Prevention & Protection
It's been proven that a comprehensive and continuous security education program can effectively reduce phishing click rates by up to 64%. With phishing being one of the top attack methods used by cybercriminals, investing in a phishing and education program has been shown to output a 37-fold Return on Investment. If a criminal does get through? That's when cyber insurance comes into play!
Ponemon Institute. “The Cost of Phishing & Value of Employee Training.”
How Can Cyber Insurance Help?
Cyber criminals access your network by leveraging human error. From fraudulent wire transfers to ransomware, you're covered.
Investigation & Notification
Security incident? Time to investigate exactly who and what was compromised through our verified vendors that will help you from investigation to notification.
Who wants to work with a company that lost customer data? Don't worry, the reputational damage can be handled with experienced PR support, provided for you.
All these costs add up, how can you afford it? With cyber insurance, you don't have to. From fines & penalties to legal and liability expenses, we've got you covered.
Why Do I Need Cyber Insurance?
But I have business insurance...
Unfortunately, not all standard business insurance policies cover cyber events like data breaches, ransomware, and business email compromise, or the expenses associated with them. It's important to understand what coverage is included in a cyber insurance policy so you can be sure to choose the one that best fits your business needs.
I'm a pretty small company, I think I can risk it.
We wish it was that easy! 64% of small to medium-sized businesses surveyed reported suffering a cyber attack. What's worse? Less than 2% believe the attack had no impact on their business. Most common hurdles after an attack? Money, time/effort, and data loss.
Underserved and Unprepared: The State of SMB Cyber Security in 2019
How do I know if I need cyber insurance?
Collect payment information online? Have a database of personal information? Digitally store employee information like Social Security numbers? Located in any of the 50 United States each with differing Breach Notification Laws? If you answered yes, then you should have a cyber insurance policy.
Protect your business from going out of business
Don't wait until it's too late. Proper proactive measures can not only minimize your chances of experiencing a cybersecurity incident but if you do, can help cover the associated expenses. Contact us today to learn how we can help you establish a security program that fits your needs.
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