Small Business Cyber Threats
According to the National Small Business Association 2015 year-end report, 42 percent of small businesses surveyed reported being victims of a cyber-attack, costing them on average over $7,000. For those businesses whose bank accounts were hacked, the losses averaged over $32,000. Because small businesses often lack the IT resources of larger companies, they face increased cyber risks and longer issue resolution times. The following cyber crimes are among the top threats to small businesses:
Social Engineering
Employee Error
Does your business retain physical or electronic records of employees or other third parties with any of the following?
Social security numbers
Drivers’ license information
Tax identification numbers
Birth dates
Medical/health records
Court records
Police records
Banking information (checking/savings accounts)
Email addresses or home addresses
If you answered yes to any of the above, your organization is in control of “Personally Identifiable Information,” and therefore, required to protect that data subject to State and Federal privacy and data breach notification laws.
Our licensed insurance agents work exclusively with small businesses to put cyber liability policies in place to help mitigate the impact of a cyber crime or data breach. To request a cyber liability insurance quote today call 844-325-9516 or click below to submit a quote request.
