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    • Home
    • Auto
    • Homeowners
    • Commercial
      • General Liability
      • Business Owners Policy
      • Cyber
      • Commercial Auto
      • Workers Compensation
      • Inland Marine
      • Professional Liability
      • Bonds
    • Life
    • Blog
    • Contact US
    • Log In
  • Home
  • Auto
  • Homeowners
  • Commercial
    • General Liability
    • Business Owners Policy
    • Cyber
    • Commercial Auto
    • Workers Compensation
    • Inland Marine
    • Professional Liability
    • Bonds
  • Life
  • Blog
  • Contact US
  • Log In

The Need for Cyber Insurance

Get a Cyber Ins Quote

 | Ransomware is a cyber attack caused by malware on a system that encrypts, blocks, or erases data from a network. To give back access to data, ransomers require payment (often in Bitcoin) in exchange for the decryption key. 

| Breach Notification Expenses can include mailings, websites, credit monitoring and more and are often mandated by each state where you have customers. 

Social Engineering is a cyber crime where an employee is tricked into paying money to a fraudulent account, often by spoofed email addresses- it will look valid but will be a fake. 

| If your computer system, or a software service you rely on, have a cyber attack or otherwise are inoperable, your business can suffer. A good cyber policy will cover both first and third party Business Interruption. 

| 63% of companies say their data was potentially compromised in the last twelve months. 

| 60% of SMB (small to medium sized businesses) would go out of business if they had a breach and no or inadequate cyber insurance. 

| 14 Seconds - the rate at which businesses are hit with a Ransomware attack. 

| $17,700 - lost every minute due to phishing attacks..

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