Many small business owners think that hackers only target large companies. You know, like Sony, TJ Max, Home Depot, Target, Blue Cross/Anthem, Yahoo!, The Democratic National Convention, US Department of Justice, LinkedIn, etc. What would you do if your network was hacked and sensitive data, including customer information was exposed? Do you have a recovery plan? Do you have any insurance to help cover the financial costs? And what can you do to better protect your business from a breach in the first place?
A recent Denver Post article reported that that 60% of small companies that suffer a cyber attack are out of business within six months. And according to the Ponemon Institute, the average price for small businesses to clean up after their businesses have been hacked stands at $690,000; and for middle market companies, it’s over $1 million.
At Jowers-Sklar Insurance, we help our business clients assess, minimize, and insure their cyber risks. We partner with industry-leading insurers to provide cyber liability and data compromise coverage to our clients. Let us help you assess your risk and take appropriate steps toward reducing and mitigating that risk.