Ransomware is a cyber-attack caused by malware on a system that encrypts, blocks, or erases data from a network. To give back access to data, ransomers require payment (often in Bitcoin) in exchange for the decryption key.
Breach Notification Expenses can include mailings, websites, credit monitoring and more and are often mandated by each state where you have customers.
Social Engineering is a cyber-crime where an employee is tricked into paying money to a fraudulent account, often by spoofed email addresses- it will look valid but will be a fake.
If your computer system, or a software service you rely on, have a cyber-attack or
otherwise are inoperable, your business can suffer. A good cyber policy will cover both first- and third-party Business Interruption.
| 63% of companies say their data was potentially compromised in the last twelve months.
| 60% of SMB (small to medium sized businesses) would go out of business if they had a breach and no or inadequate cyber insurance.
| 14 Seconds – the rate at which businesses are hit with a Ransomware attack.
| $17,700 – lost every minute due to phishing attacks.
Contact one of our experience insurance agents to review Cyber Insurance today 330-758-3339