Common Cyber Insurance Myths and Misconceptions

Common Cyber Insurance Myths and Misconceptions

No matter what kind of business you’re in, the threat of cybercrime — and its associated costs — looms large. According to IBM Security, globally the average cost of a single breach reached an all-time high in 2023 ($4.45 million). In the U.S., that number is even higher, with an average cost of $9.48 million per breach, an increase of 0.4% from...

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Seven Cybersecurity Measures That Lower Insurance Premiums

Seven Cybersecurity Measures That Lower Insurance Premiums

There has been a staggering surge in cybercriminal activities over the past few years, with a global increase of 38% between 2021 and 2022. The financial repercussions of an attack can be crippling, with an average cost of a single data breach reaching $4.45 million.  In an effort to cover their losses and keep up with demand, insurers have...

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Cyber security: how to guide your insureds through a data breach

Cyber security: how to guide your insureds through a data breach

How to Guide Your Insureds Through a Data Breach Whether through sophisticated malware, phishing schemes, or an unsecured website that leads to data leaks, cyber attacks occur frequently enough to warrant due diligence. Cyber attacks affect businesses of every size — from a mom-and-pop shop that takes digital payments to large enterprises that...

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Cyber Risks of Using Public Phone-Charging Stations

Cyber Risks of Using Public Phone-Charging Stations

Your clients’ exposure to cybercrime doesn't end at the office door. Hackers have a variety of ways to access critical business information via phishing, ransomware, and malware. One of the latest trends in cyberattacks involves the use of public phone-charging stations. Although these charging stations are convenient and appear safe, they can...

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Cyber Liability is An Important Protection for All Industries

Cyber Liability is An Important Protection for All Industries

Which of your commercial clients need cyber coverage? All of them. Any organization that has a computer network, handles confidential information, or collects and transacts with personal identifiable information is at risk of a data breach. This exposure has the potential to pose a significant financial threat to any business or entity involved....

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Cybersecurity and Cyberattack Facts

Cybersecurity and Cyberattack Facts

Accidents happen. No matter how careful you are, an online security breach can happen to anyone. According to a report by the Ponemon Institute, only 24% of breaches resulted from human error and 25% from a system glitch. Malicious attacks were responsible for 51% of breaches in 2019. Big Impact Data breaches can be costly events. The United...

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Cybercrime Trends for the Global Pandemic

Cybercrime Trends for the Global Pandemic

All businesses are vulnerable to the risk of cyberattacks and data breaches, but many owners of small and medium-sized businesses (SMBs) underestimate the threat. In fact, SMBs are prime hacking targets precisely because they tend to downplay the risk and devote fewer resources to cybersecurity. The financial impact of cybercrime can be...

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3 Reasons Why Small Businesses Are Vulnerable To Cyber Attack

3 Reasons Why Small Businesses Are Vulnerable To Cyber Attack

When it comes to cyber attacks, small and medium-sized businesses are not excluded from the threat. Many small businesses believe that cyber criminals are only interested in data from big companies, and that is not always true. In fact, with cyber criminals coming up with new techniques to hack any system, small business are the most attractive...

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The 4 Elements of Cyber-Liability Risk Management

The 4 Elements of Cyber-Liability Risk Management

The majority of businesses do not have adequate cyber-liability risk management procedures in place. Moreover, many do not understand the four fundamental elements of risk management as they apply to cyber-liability exposures. Risk Avoidance Avoiding the activities that could cause risk will, of course, help businesses avoid risk overall. There...

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