Cyber Liability Protection
The question isn’t if your business will ever be breached, it’s when! – Sam Wenk
Computers are a necessity to run a business. Are you a company managing thousands of data files? Cyber liability protection is critical.
Top 5 Reasons Your Business Needs Cyber Liability Coverage
- Data breaches and cyber attacks are becoming more common and have increased 42 percent in the last year alone.
- 40 percent of all breaches have occurred in organizations of 1000 or fewer employees and 31 percent in organizations of fewer than 100 employees.
- All industries are vulnerable to a data breach or cyber attack, including education, financial services, nonprofits, professional services, manufacturing, hospitality and retails sectors.
- The average cost of a data breach has risen to $5.4 million and includes costs related to business disruption, revenue loss, equipment damages, legal fees, public relations expenses and forensic analysis, as well as notification costs that are legally mandated in 47 states.
- When your business experiences a data breach, the costs associated with that breach average $188 per compromised record. Unless you secure a dedicated cyber policy, your business is not likely to have adequate insurance coverage.
Cyber liability insurance protects you from various threats against your computer. It can help you recoup losses as a result of data breach and may assist in recovering data that was lost. It may also give you protection against libel and online false advertising claims. This is why Wenk Insurance offers cyber liability protection for your precious virtual assets.
Get Protected Today
Data breach and hacking is a serious matter. We want to help you keep your data safe. Call Wenk Insurance today at (847) 433-8370 or contact us to learn more or get a quote on adding cyber liability coverage to your business insurance policy.
*Top 5 Reasons info from Travelers Casualty