Why Cyber Security Matters in Today’s Business

Does your company collect credit card information for online sales or maintain a data base of personal information for lead generation? With new threats to computer systems and data emerging every day, it pays to be prepared. Even if your business or organization has taken steps to maintain the security of your data, you may not be keeping up with today’s increasingly sophisticated threats.

A cyber breach can cost you more than you think.

  • Average post breach costs: $1, 600, 000
  • Average costs to notify those impacted: $509,000
  • Average legal defense costs: $574,000
  • Average legal settlement costs: $258,000
  • Average cost per record lost: $201

Cyber attacks are on the rise.

Cyber attacks have increased 62% in the number of data breaches and 91% in the number of targeted attacks since 2013.

Even one cyber breach can devastate your customer trust, your reputation and your bottom line. Your lost business alone can average $3.3 million dollars. Don’t leave your cyber exposed to threats.

The amount of coverage your business or organization needs depends on your level of risk. Find the cyber liability coverage that’s right for your organization.

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