Cybercrime and security experts Insurance Brokers of Arizona (480-812-1998) are here to tell you why your business needs cyber insurance.
While you’re off enjoy your summer vacation, Insurance Brokers of Arizona want to remind you that a hacker’s favorite season is phishing season, and it runs all year round!
That’s why the insurers have released their new video, which is titled 'Is Cyber Insurance Worth it?’. It explains what cyber insurance covers and addresses the key reasons that businesses of all sizes should consider purchasing it to protect their company.
Go to https://youtu.be/5L-zkRyHas0 to find out more.
The release of the video coincides with the latest figures on cybercrime in the US. According to Cybercrime Magazine, cybercrime now inflicts more than $6 trillion USD of damages annually, with this figure set to rise by 15% to $10.5 trillion by 2025.
As a small business owner, you may have considered yourself immune to cyber-attacks or of less interest to the criminal syndicates and interests that operate online. However, the latest figures from Business News Daily paint a very different picture. Not only are small businesses now the target of 70% of cybercrimes—in part given their reputation for having more lax cyber-security—but the financial cost of these attacks is rising.
Business News Daily’s researchers suggest that the average cost of an attack on a small business like yours is $55,000. This includes the payment of professional services like IT specialists and lawyers needed to recover from an attack, the loss of potential business, downtime and the cost of safeguarding your business in the future.
Insurance Brokers of Arizona covers these essential risks in their advice video, adding the fact that 60% of small businesses go under following an attack.
In particular, their video is targeted to you if you are running a company that deals with sensitive data, including personally identifiable information like dates of birth, credit card numbers, or social security numbers. The video articulates that, in the current climate of hackers, ransomware, and malicious software infections, it is very easy for your business’ sensitive data to become compromised.
As such, Insurance Brokers of Arizona suggests that you should work with a licensed and experienced cyber insurance agent who understands the exact nature of cyber risks and can correctly identify the coverage that your business needs to protect itself from this threat.
Although you may believe that you are covered by your general liability insurance, the insurer wants to stress that this is not the case, as almost all general policies exclude claims related to cyber incidents.
Insurance Brokers of Arizona was founded in 2005 and since that time they have been proudly protecting small businesses in Gilbert, Mesa, Chandler, Tempe and Scottsdale counties. In addition to cyber security, they assist businesses with business owner's, workers’ compensation, professional liability and commercial auto and property insurance.
A spokesperson for the insurers said, “If your business deals with any sensitive information, you are at risk of a cyber security breach. It is important to speak with a certified cyber insurance agent who has the training and knowledge regarding cyber risks that can help you determine what coverages are most critical for your specific business.”
To stop today’s hackers in their tracks, you need more than a firewall; you need an airtight insurance policy.
Visit https://insurancebrokersofaz.com to see why for cyber protection you can’t beat, you need Insurance Brokers of Arizona.