- The cyber threat is growing
- “larger companies… tend to have a greater exposure to cyber risk”
- More companies are buying cyber risk insurance coverage, but the majority still do not.
- Legislation & regulation will likely increase, increasing the burden on companies to protect information
- Cyber attacks are increasing, and the attacks are getting more sophisticated.
- Small businesses are prime targets, and we are continually surprised at the number of small companies that have actually had some sort of breach
- Any company with confidential data should be buying Cyber Risk Insurance
- While many companies buy Cyber Risk Insurance, many of those that do buy do not have adequate coverage
Cyber Risk Insurance is an essential coverage and is not difficult to explain to potential clients, but the details are complex. As a wholesale broker, we provide Cyber Risk Insurance to all types organizations through retail insurance agents and brokers.