According to the IBM Cost of a Data Breach Report 2023, the global average data breach cost in 2023 was $4.45 million, a 15 percent increase over three years.
That’s why having a robust cybersecurity plan is imperative in the digital age.
But no business is 100 percent safe from cyber threats. Bad actors are becoming more aggressive in exploiting gaps in digital security and stealing valuable information. The rise of remote work has exposed more points of attack.
Many businesses expect to mitigate the financial impact of cyberattacks with adequate insurance. Keep in mind that standard property and liability insurance policies do not cover many types of cyber risk.
Take this short quiz to test your awareness and learn more about how cyber insurance coverage can help protect your business.
Learn about the growing risk of cybercrime and how insurance can help.