Unveil Hidden Secrets To Small Business Cyber Insurance Success
The Importance of Cyber Insurance for Small Businesses
Small businesses are increasingly becoming targets for cybercriminals due to their often-limited cybersecurity resources. According to a report by the Ponemon Institute, 66% of small and medium-sized businesses have experienced a cyber attack in the past 12 months1. The financial repercussions of such attacks can be devastating, with the average cost of a data breach for small businesses being approximately $200,0002. Cyber insurance can provide a financial safety net, covering expenses related to data recovery, legal fees, and even public relations efforts to manage reputational damage.