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Enter cyberinsurance. We insure almost everything – our homes, our cars, even our lives. At first glance, it seems odd that most businesses don’t insure against something as potentially devastating as cybercrime. Cybersecurity professionals remain divided as to the future of cyberinsurance.
Smallbusinesscyberinsurance: Is it really needed? However, according to Security Magazine , 43% of all cyberattacks target smallbusinesses, and 60% of all smallbusiness victims of a data breach permanently close their doors within six months of the attack.
So, your business has just suffered a data breach and it’s time to dig deep in your pockets to pay all the resulting expenses. Without cyberinsurance , you can expect to pay a dizzying amount of cash. Here are four ways your business can save money on its insurance. How is cyberinsurance priced?
When security fails, cyberinsurance can become crucial for ensuring continuity. Cyber has changed everything around us – even the way we tackle geopolitical crisis and conflicts. If the technology were to become unavailable, the resulting business impact could be mitigated with cyberinsurance.
Trends of cyberinsurance claims for 2020. Coalition, a cyberinsurance company, recently released a report detailing the categories of cyberattacks as well as the cause behind the attacks for the first half of 2020. The number one type of cyber incident so far this year is ransomware.
Cybersecurity is often overlooked by smallbusiness, but over 60% of cyberattacks are targeted at small to medium-sized businesses. Smallbusinesses are attractive to hackers because they usually do not have the sophisticated security systems that are in use by larger organizations.
A ransomware attack is about as bad as a cyberattack can get. It can shut down your business – in the case of healthcare organizations that can be life-threatening for patients – damage your reputation with customers and employees, and invite further attacks as cybercriminals view your organization as an easy mark.
This podcast takes a deep dive into this topic, where Demetrius Malbrough , founder and CEO of Data Protection Gumbo , interviews Omar Masri , Mamori.io’s founder and CEO, about cybersecurity, data protection, and what it means to small, medium and large businesses. Why are cyberattacks still on the rise?
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