MCF

MCF

NEWS & EVENTS

Is Your Business Protected From Cyberattack Loss?

Staff | 10/18/2022

mcfThese days, no matter the size of your business, cybersecurity insurance is a necessity to protect it against data theft, manipulation or loss. Since October is Cybersecurity Awareness Month, the time is right to discuss how your business can benefit from a Cyber Insurance Policy. 

Technology has become a big part of our lives, not just as individuals but businesses too. Many companies use technology to store data such as client/customer information, financial records, employee records and more. Cloud-based storage options have become the standard because they’re accessible almost anywhere and resilient in times of natural disaster. The downside to all of this is that centralized business information is more accessible to hackers and cybercriminals. At Massey, Clark, Fischer, we have experience in identifying the type of cyber threats that a business might face and recommending policies that provide the best protection.

Massey, Clark, Fischer works with business owners to:

  • Discover their cyber-insurance needs
  • Find areas vulnerable to cyberattacks
  • Cover cyberattacks on hardware and digital assets held by vendors and within offices
  • Create custom-built policies that provide first or third-party coverage, or both
  • Reduce loss from cyber fraud, data breaches and lawsuits

On average, data breaches are costing U.S. businesses $4.24 million, according to a 2021 report by IBM. It is estimated that global cybercrime will reach $10.5 trillion a year by 2025. According to znetlive.com, last year, there were 270 cyber-attacks (unauthorized access of data, applications, services, networks or devices) per company. This number was actually a 31% increase from 2020. Working with a credible cybersecurity firm to develop a strong cybersecurity plan is important to protect your assets. Purchasing cyber insurance is also another way to defend your business against data theft and damage. 

Our experienced team of insurance professionals have earned the trust of commercial enterprises in Florida for more than 60 years. As cybersecurity continues to grow in importance, let us help you. Contact us to get started on protecting your business now with cyber insurance!