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Cyber Liability

Posted on: Tuesday, August 13th, 2013

Cyber Liability insurance is a fairly modern idea and many business owners do not believe it is necessary for their company.  Just a few interesting statistics seem to suggest otherwise.  Cyber Liability claims have been on the rise in the last few years and not just for large companies.  In fact, 31% of Cyber Liability claims in 2012 came from small businesses with fewer than 100 employees.  Even worse than that, 66% of all data breaches go unnoticed for several months or possibly years.  These numbers are up from 2011 and show no signs of slowing down.  With more businesses switching to computer technology, data breaches are sure to continuously rise.

Over the years, these breaches have become much more costly and severe.  The graph above shows the increasing costs of data breaches from 2011 to 2012.  As you can see, this is becoming a serious problem and can cost a business their future.  No business is too small to get hacked, so why take the chance?  Check out our website for more information on this unique coverage and get protected today!

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Chris Beardslee

Account Executive at Allied Insurance Managers
With 13 years experience as an account executive, Chris has a proven track record of dedication and commitment to excellence.A regular contributor to the Allied Blog.Chris takes great pride in working with business owners to develop a strategic plan that will allow them to achieve their risk management objectives.
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