What is Cyber Security Insurance?
43% of cyber attacks
target small and medium sized businesses.
Is Your Business At Risk?
Within 6 months of an attack,
60% of small businesses close for good.
What is it?
Cyber Security Insurance protects a business or organization from claims that arise out of a wide variety of incidents involving electronic hacking or online activities as well as negative events with private data or communications in several other formats.
To name a few, this includes unauthorized release of information; intellectual property violations in digital, online or social media environments and failures of computer security that result in deletion or alteration of data, transmission of malicious code.
Who’s At Risk?
Cyber Security Insurance is critical protection because small businesses have become the target of cyber criminals.
- Retail businesses are vulnerable for the personal and credit card information of customers.
- Companies in all industries are hit with malware attacks that transform a company’s systems into computers which can be used for a larger attack.
- Hackers use security lapses in small businesses as backdoor entries into larger partner companies.
- In small companies of nearly every industry, hackers look for ways to hold data for ransom and force business owners to pay to retrieve it.
What does it Cover?
Cyber Security Insurance covers claims and support in several areas including the following:
RANSOMWARE: An employee accidentally opening a link that downloads Ransomware, that encrypts your system and then demands payment to unlock it.
COMPROMISED INFORMATION: Employee or customer information that inadvertently is released or stolen intentionally by hackers.
TRADEMARK: Claims relating to company violation of someone else’s trademark or copyrights.
DISRUPTION: A disruption of service due to cyber attack or incident.
What’s your risk? Find out Today.
“It’s because you’re the little guy that you’re of interest,” says Hemu Nigam, founder of SSP Blue, an internet security consultant business, and the former vice president of internet enforcement at the Motion Picture Association of America. “Hackers love small businesses [because] they don’t have the resources to put in high-end cybersecurity protection and they may not be consciously aware they are a target.”
14 million US businesses are at risk of a hacker threat by Chris Morris