The consideration of cyber insurance for is more important than ever when it comes to investing in protection from cyber attacks. Even if you believe your network is well-protected and your cybersecurity practices are up to par, a cybersecurity plan without cybersecurity insurance simply is no longer a best practice for businesses in today’s world.
If you’re a small business, you might not consider yourself a target for such sophisticated attacks. But according to an interview with Forbes Magazine founder Gary S. Miliefsky, “Cyber criminals find SMBs even easier targets because their defenses are often not as advanced as those of larger businesses.”
This is true- 43 percent of all cyberattacks target small businesses. Small businesses are notorious for not having the cybersecurity defenses they need to keep cybercriminals out of their data.
No matter the size of your company, it can take as little as just one attack to literally wipe out your entire business. Investment in a full protection plan that includes cyber insurance is more important than ever before if you want to ensure coverage from all angles. Choosing a cyber insurance vendor that understands the risks and needs of your specific business is also important. CyberPolicy specializes in providing SMBs with the right tools, guidance, and support to protect you from attacks as well as the knowledge to provide you with suggestions for a full security plan- all of which are not normally available to businesses that may be relying on their liability business insurance alone to cover them from cyber-attacks. While insuring against attacks should by no means be your only source of protection from hackers, it is definitely an important piece of the puzzle to consider.
Does your business have/ever considered Cyber Insurance in place as part of your security plan? Why or why not?
8 Spice ups
