- $400B is the estimated annual business loss to cybercrime globally
- 94% of organizations experienced phishing attacks
- 73% of organizations impacted by impersonation attacks have experienced a direct loss
Cyber Liability
Cyber threats are a growing risk for businesses in the U.S., leading to data breaches, ransomware attacks, and financial losses. No business is immune, and the costs of recovery can be significant.
Why Insure Your Business?
Cyber liability insurance helps cover costs related to data breaches, legal fees, regulatory fines, and business interruption. Without coverage, a cyberattack could lead to significant financial losses, lawsuits, and damage to customer trust. Insurance provides a safety net, ensuring your business can recover quickly from cyber threats.
Instant Quote, Instant ProtectionRecent Cyber Liability Claims
Stolen Client Laptops 2 laptops from the service provider containing the data of over 80,000 clients of the retailer. Payout: $1,200,000
Rogue HR Employee Terminated employee steals confidential information from customer files. Payout: $3,500,000
IT Company Spyware Attack An employee opened a phishing email on her work computer, for 2 weeks the spyware emailed over 1,000 screenshots of confidential data on 150 customers. Payout: $5,300,000
Ransomware at Data Company A U.S. based IT company contracted with an overseas software vendor which left certain “administrator” defaults on the company’s server and a “hacker for hire” was paid $20,000 to exploit the vulnerability. Payout: $4,600,000
Top 12 Security Controls As Recommended by Cyber Insurers
Multi-Factor Authentication (MFA)
Virtual Private Network (VPN) & Remote Desktop (RDP)
Endpoint Detection & Response (EDR)
Network Security & Segmentation
Privileged Access Management
Endpoint Access Controls
Data Recovery & Remediation
Offsite Encrypted Backups
Malware Protection
Patch Management Program
Employee Awareness Training
Vulnerability Assessment & Audit