Cyber Liability Trends
Cyber Liability continues to be a major issue for many Denver businesses. Is Cyber Liability part of your Business Insurance Program? In today’s data-driven social media world, Denver businesses of all sizes have had a cyber-attack or data breach. Statistics show 40% of all cyber incidents affect businesses with fewer than 100 employees. With the recent Target breach, many individuals and businesses are considering cyber or identity theft insurance.
Hackers caused 32 percent of breach events and were responsible for 75 percent of all exposed records. Industry experts concur that these incidents can be directly attributed to increased use of malware. Healthcare was the sector most frequently breached (29.3%), followed by Financial Services (15.0%). The average cost to business per lost/stolen record was $307. Provided by NetDilgence
Cyber Liability Examples
Cyber Liability Considerations
Cyber Liability Insurance
Cyber liability coverage (for data breaches) has evolved from just insurance for information technology companies to coverage that nearly every kind of business should have – if they don’t already. From retailers, banks, contractors, distributors, restaurants and medical offices, many businesses are unaware of the severe data breach exposure they face. In short, any business not making an effort to protect personal private information is seriously out of step with the emerging landscape of privacy law. We can provide your firm with the right combination of pricing and coverage.
DCInsurers – Mountain, knows how important it is to have the right kind and amount of insurance coverage for your business. We also know how challenging it can be to sort through the numerous different insurance options to find the right policy.