Who needs Cyber Insurance?

Cyber insurance, despite its reputation of only being required for large tech companies & highly exposed industries with lots of data, is important for all businesses, regardless of industry or size today. Cyber is no longer an optional add-on but a key component in a well-insured & protected company.

Cyber Insurance

Everyone needs cyber insurance:

  • 1 in 3 data breach incidents happen to businesses with less than 100 employees
  • 60% of small businesses will close within 6 months of a cyber-attack or data breach
  • The average cost for each client record exposed or compromised is $217*

*Travelers Insurance

If you have any of these exposures, cyber insurance can protect you:

  • Company website
  • Company email addresses
  • Company phones, computers, tablets
  • Accepts payment via credit card
  • Online advertisements
  • Contracts are sent via email
  • Info is stored in the cloud or on a server
  • You collect any client information including but not limited to: name, email, phone number, address, payment information, date of birth, etc.

What a Cyber policy can do for you:

  • Connect you to a team of experienced specialists to mitigate the consequences of a data breach
  • Cover associated costs after security breach from phishing emails
  • Make financially whole if an employee/third party steals money by siphoning from accounts or altering invoices
  • Cover costs of new hardware if a virus/bug corrupts the software, breaking it
  • Reimburse lost revenue if you or a vendor’s business is interrupted
  • Make whole after credit card fines, processing failures, or exposures
  • Pay the ransom if your system or information is hacked and held for compensation
  • Reimburse lost revenue from your or a vendor’s accidental failure or destruction of an essential system
  • Cover losses arising from issues with making/distributing materials advertising your services
  • Replace lost income due to reputational harm caused by a system failure
  • Terms of coverage and conditions/exclusions are governed by the particular policy purchased

Download the 

Cyber Insurance

 Info Sheet Here