Can you Risk NOT having Cyber Insurance coverage for your small business?
Do You Know What a Data Breach Could Cost You?
Hint: It could be everything
WARNING! The Results May Shock You
Sure, you might know that there are “some” monetary repercussions of suffering a data breach, like the costs associated with notifying the individuals involved, but what about the rest? Rely on word of mouth or referrals? Customers may not be so quick to refer a company that compromised their data.
- Exploitation: From paying the ransom to access your files or finding out you've experienced fraudulent wire transfers.
- Fines & Penalties: Federal, State, and PCI can all impose fines and penalties on an organization when a security incident occurs.
- Crisis Management: Financial damage is bad, but reputational damage is devastating. Gaining back lost trust is a hard pill to swallow.
Small and Medium-Sized Businesses at Risk
SMB account for 43% of data breaches
Lack of time, resources and education are three major factors that put small to medium-sized businesses (SMBs) at risk.
2019 Data Breach Investigations Report
83% of SMBs lack the funds to recover
What's worse? A quarter of those who can't afford it didn't even realize there would be any recovery costs involved.
2018 InsuranceBee Cybercrime Survey
How to Calculate Your Cost
Enter the number of customers’ data you have access to and choose between three types of data breaches:
- Payment Card Industry (PCI): How much could a breach of credit card information cost you?
- Protected Health Information (PHI): How much could losing patient data cost you?
- Personally Identifiable Information (PII): How much could losing Social Security numbers or email addresses cost?
Proactive Prevention &
Protection
It’s been proven that a comprehensive and continuous security education program can effectively reduce phishing click rates by up to 64%. With phishing being one of the top attack methods used by cybercriminals, investing in a phishing and education program has been shown to output a 37-fold Return on Investment. If a criminal does get through? That’s when one of our robust cyber insurance policies, covering up to $1M, comes in!
Ponemon Institute. “The Cost of Phishing & Value of Employee Training.
How Can Cyber Insurance Help?
Exploitation
Cyber criminals access your network by leveraging human error. From fraudulent wire transfers to ransomware, you're covered.
Crisis Management
Who wants to work with a company that lost customer data? Don't worry, the reputational damage can be handled with experienced PR support, provided for you.
Investigation & Notification
Security incident? Time to investigate exactly who and what was compromised through our verified vendors that will help you from investigation to notification.
Financial Support
All these costs add up, how can you afford it? With cyber insurance, you don't have to. From fines & penalties to legal and liability expenses, we've got you covered.
Why Do I Need Cyber Insurance?
But I have business insurance...
Unfortunately, not all standard business insurance policies cover cyber events like data breaches, ransomware, and business email compromise, or the expenses associated with them. It’s important to understand what coverage is included in a cyber insurance policy so you can be sure to choose the one that best fits your business needs.
I'm a pretty small company, I think I can risk it.
We wish it was that easy! 64% of small to medium-sized businesses surveyed reported suffering a cyber attack. What’s worse? Less than 2% believe the attack had no impact on their business. Most common hurdles after an attack? Money, time/effort, and data loss.
Underserved and Unprepared: The State of SMB Cyber Security in 2019
How do I know if I need cyber insurance?
Collect payment information online? Have a database of personal information? Digitally store employee information like Social Security numbers? Located in any of the 50 United States each with differing Breach Notification Laws? If you answered yes, then you should have a cyber insurance policy.
Protect your business from going out of business
Don’t wait until it’s too late. Proper proactive measures can help minimize your changes of experiencing a cybersecurity incident, as well as help cover the associated expenses. Contact us today to learn about our cybersecurity solutions.
(512) 960-2744
Address 409 W. Front St, Suite 100-120, Hutto, TX 78634
Email hello@cyberworkstech.com
Request your FREE Book: "How to Avoid Email Scams"
Your business is constantly under attack – it’s YOUR responsibility to protect it.
Discover how easy it is for hackers to gain access to your email account and drain your bank account. And learn what you can do to stop this from happening to you.
Request your free paperback copy of
“How to Avoid Email Scams” and discover:
- The most common type of cyber attacks that your business needs to protect from.
- How much damage a small attack could have on your business.
- What you can do to prevent a successful attack on your business.
- (512) 960-2744
- hello@cyberworkstech.com
- 409 W. Front St, Suite 100-120, Hutto, TX 78634