Imagine not being able to access any of your customer records? What would you do? Imagine if all your internal messages and employee and customer contact information was published on the internet? These are some of the types of challenges that have faced those who have been hit.
According to a report by the Ponemon Institute, the average cost of a data breach for a small or medium-sized business is $2.2 million. How would you handle a $2.2 million dollar expense next month? In the case of small businesses, 60% of those that suffer a cyber attack go out of business within six months. These statistics demonstrate the devastating financial impact that a cyber incident can have on a small or medium-sized business.
"Small businesses are becoming an increasingly attractive target for cyber criminals, and the costs of a successful attack can be devastating," says Michael Bruemmer, Vice President of Experian Data Breach Resolution. "Cyber insurance can provide the financial protection that small businesses need to recover from a cyber incident and continue operating."
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