9 out of 10 Businesses were Hacked in 2015
For risk managers — indeed for most businesses — among the most disturbing words they can hear are “We’ve been hacked.” What was once something to fear for only large businesses is now an issue for the majority, according to a survey of business risk managers released May 17 by the Connecticut-based specialty insurer Hartford Steam Boiler Inspection and Insurance Co., which is owned by Germany-based reinsurer Munich Re.
The survey, conducted onsite at the Risk and Insurance Management Society Conference in San Diego, last month found that nine of 10 businesses experienced at least one hacking incident in the past year. The survey also found that the number of attacks increased 21% from 2015.
Given the increased availability and interest in Cyber insurance, you would think that a significant majority of risk managers would have purchased the coverage for their organizations. However, only half (50%) say their business has either purchased Cyber insurance for the first time or increased its level of coverage in the past year, while 30% of businesses don’t have any level of Cyber insurance coverage.
At BB Insurance Marketing, we provide Cyber Liability insurance solutions for any industry with access to insurance providers with specific products to combat data breaches or hacking. Online business happens at the speed of light – don’t wait until it’s too late. Contact us to learn more about our Florida insurance solutions and cyber liability coverage or fill out our quick quote form and get a free quote today!