Protecting against #cyberfail: Small business and cyber insurance

While cyberattacks and data breaches at Fortune 500 companies tend to dominate the headlines, America’s more than 28 million small businesses and their 56 million employees are increasingly vulnerable. Their exposure is much the same as that of larger companies, experts say, but many may overlook or underestimate the threat and may not fully understand the risks. Small businesses (defined as firms with fewer than 250 employees) face a growing frequency of attacks and breaches which can result in potentially severe financial consequences.

 

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Slide deck: Cyberrisk: Threat and opportunity, October 2016

The October 2016 Insurance Information Institute (I.I.I.) white paper, Cyberrisk: Threat and Opportunity, discusses how insurers are responding with products and coverages to address the growth in cyberrisk. To help you understand and explain the key points of this paper, we offer this deck of PowerPoint slides with key insights and data—available exclusively to I.I.I. members and subscribers.

Please click on the file name below to view the presentations. Once open, you can choose "file" from your menu and then save the PowerPoint presentation to your disk. The presentation also is available in Adobe Acrobat format. The Adobe Acrobat file is smaller and faster to download. However, you do need the appropriate software to view.

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Infographic: Cyberrisk insurance

Media Folder: 

Cyberrisk: Threat and opportunity

This white paper examines the current exposure to cyberrisk and how insurers are responding:

 

Please click on the file name below to view the white paper in PDF format. You will need Adobe Acrobat Reader to view the file.

Download cyber_risk_wp_102716-92.pdf

You can download Adobe Acrobat Reader, free of charge, from the Adobe website (http://www.adobe.com/products/acrobat/readstep.html).

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Cybersecurity and identity theft coverage: The state of the industry

Overview

Annual information about the U.S. cyber insurance market has been hard to come by until now, but new reporting requirements developed by the National Association of Insurance Commissioners (NAIC) now enable insurers to better track cyber insurance policies issued in the marketplace.

 

Facts + Statistics: Identity theft and cybercrime

The scope of identity theft

The 2017 Identity Fraud Study, released by Javelin Strategy & Research, found that $16 billion was stolen from 15.4 million U.S. consumers in 2016, compared with $15.3 billion and 13.1 million victims a year earlier. In the past six years identity thieves have stolen over $107 billion.