Here are some examples of costs related to cyber attacks:
- The cost of remediation against attacks – such as notifying your customers
- Lost revenue due to a cyber attack
- Legal costs related to cyber attacks
- Costs related third-party data storage
To understand the scope of the ever-growing concern, did you realize that 600,000 Facebook accounts are comprised daily? Using Facebook as a proxy for cyber attacks, generally, and considering that less than 3% of medium-to-small businesses have cyber coverage and that 65% of businesses are not even aware of what cyber liability is, it is clear that there is tremendous risk.
As a trusted partner to responsible entrepreneurs and business owners, Townsend Insurance Group customizes cyber-policies to address specific needs and budgets.