Safeguard your business, safeguard your future.
Cyber attacks are a constant threat in today's digital world. Cyber Protection Insurance can provide businesses with peace of mind, knowing that they have a plan in place to respond to and recover from a cyber incident.
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Understanding cyber insurance: Mitigating financial losses from cyber attacks
Cyber insurance is a type of insurance designed to help mitigate financial losses that can result from cyber attacks or other types of cyber incidents. Also called cyber risk insurance or cyber liability insurance coverage, this insurance policy is meant to provide coverage for the costs associated with responding to and recovering from a cyber incident, such as data breaches, malware attacks, and cyber extortion.
The Growing Threat of Cyber Attacks
According to projections in the 2022 Coro Mid-Market Security Report, businesses were projected to experience an 883% increase in cyber attacks from 2019 to 2022. The 2022 Cost of a Data Breach Report by IBM Security and the Ponemon Institute, which examined 550 organizations affected by data breaches, revealed that the average total cost of a data breach had reached an all-time high of USD 4.32 million in 2022. Furthermore, 83% of the organizations surveyed reported experiencing more than one breach. Ransomware attacks, in particular, saw a significant rise in 2022, with a 41% increase reported from 2021.
Cyber Protection Insurance can help give you the peace of mind you need to focus on what really matters - growing your business.
Who can benefit from cyber insurance?
All businesses should assess their cyber risk
Large businesses may be at greater risk as they are a larger target and often possess more sensitive data such as customer information, trade secrets, and financial data. However, regardless of the size or industry, cyber-attacks are a constant threat in today's digital world, and many types of businesses will benefit from cyber insurance.
Why choose Cyber Protection Insurance?
Comprehensive cyber insurance from industry experts
At Cyber Protection Insurance, our unparalleled expertise in both insurance and cyber security enables us to provide our clients with the most comprehensive and effective coverage.