Data breaches are up 72% in 2023, and ransomware attacks rose a staggering 128% between 2022 and 2023*. The average cost of a ransomware attack is a crippling $5.13 million**.
Don’t let a cyber incident devastate your business. Get a free Cyber Insurance quote today and protect your business from financial disaster.
Why Small Businesses Need Cyber Insurance Even More
While all businesses are susceptible to cyberattacks, small businesses are disproportionately targeted, accounting for 43% of all cyberattacks according to the U.S. Small Business Administration***. Here’s why cyber insurance is crucial for your small business:
Limited Resources: A cyberattack can cripple your IT infrastructure and financial stability. Cyber insurance helps cover the costs of recovery, preventing a cyber incident from becoming a business closure.
Slower Detection: Small businesses often lack the advanced security measures of larger companies, making it harder to detect a cyberattack. The average time to identify a data breach is a staggering 118 days, leaving your business exposed for longer****. Cyber insurance can help expedite the detection and response process.
Higher Risk of Closure:60% of small businesses fail within six months of a cyberattack****. Cyber insurance can provide the financial assistance needed to weather the storm and keep your doors open.
Don't be a statistic. Get a quick quote to see how affordable cyber insurance can be.