Cyber insurance goes beyond your general liability or business policies to cover the costs of getting you up and running again after a breach, as well as the lost income due to a business shut down. A breach can cause crippling damage to your data and your pocketbook.
Speciality insurance coverage for cyber risks is relatively new to the marketplace. However, the possibility of a cyber attack is a reality that every business owner needs to consider. It is certainly not just a “big business” issue, as small businesses have become more attractive targets in the eyes of many hackers.
Did you know?
- 40% of all cyber attacks target business with fewer than 500 employees
- About 70% of Canadian businesses have been victims of cyber attacks
- The average cost per incident is $15,000.
- Cyber crime has surpassed illegal drug trafficking as a criminal moneymaker
Tips and Next Steps
Some great tips to prepare your business can be found at this link 13 Tips to Achieve Great Cybersecurity Without Spending a Fortune
To find out more about Cyber Insurance and the coverages that are available to your business, contact us today!
