What Is Cyber Security and Why Is it Important?
Cyber Security is considered the #1 most misunderstood commercial line of insurance coverage today. This becomes even more important since cyber hacks and breaches are becoming more and more prevalent. According to Cybint, a hacker appears every 39 seconds, and 43% of those cyber attacks are attempting to target all kinds of small businesses. To take things one step further, six months after a successful breach, most small businesses fail to keep their doors open for business. While many are unaware of the rising prevalence of cyber attacks, they are even less aware of the costs that can be mitigated by proper cyber liability coverage.
What Is Cyber Liability Insurance?
Cyber security is the general liability that lies within the digital realm. Cyber liability insurance covers the financial losses that result from any breach of data that results from a cyber attack. Attackers look for anywhere that a business that is exposed including areas such as: