This week, Anastasi Insurance Agency is focusing on Cyber Risk / Cyber Liability Services. Each day we will be posting new content on Cyber Risk to help you learn more about this very critical issue.
Cyber threats are an increasing concern for businesses of all sizes, yet many businesses lack the resources to protect themselves. In fact, two thirds of businesses do not have a stand-alone cyber insurance policy, and over half have not discussed cyber insurance coverage with their broker within the last year. As cyber attacks continue to become more sophisticated and common, cyber insurance will be an essential part of a business’s insurance coverage package. Cyber Risk should not be ignored.
Having a conversation about cyber insurance is not something that should be delayed. In fact, nearly 20 percent of businesses that had not discussed cyber insurance with their broker within the last year had a cyber security incident during that period. As cyber policies continue to become more necessary and commonplace, now is the time to have the discussion and find the correct policy for you.
Check out this video on Cyber Risk.
In recent years, cyber attacks have emerged as one of the most significant threats facing organizations of all sizes. The Internet and other network operations have created risks that were unheard of less than a decade ago. When cyber attacks (such as data breaches and hacks) occur, they can result in devastating damage, such as business disruptions, revenue loss, legal fees, and forensic analysis and customer or employee notifications. It is important to remember that no organization is immune to the impact of cyber crime. As a result, cyber liability insurance has become an essential component to any risk management program.
Take this quiz to determine your organization level of risk. Contact us today to make sure you are properly covered for your level of risk.