Financial Guaranty Insurance Brokers

2 Reasons Your Company Needs Cyber Insurance

One of the top concerns of companies large and small is its vulnerability to cyber attack. For good reason, too, as digital criminals are less interested in causing disruption and more inclined to steal your clients’ personal information without your knowledge. To protect your organization, work with a company like Financial Guaranty Insurance Brokers.

If you are wavering on whether to invest in cyber insurance, consider the cost of informing your customers of a data breach, as well as the trust you could lose. For some companies, this could be financially devastating. Here are two other reasons to consider cyber insurance.

Your Employees Use the Internet

If your employees have access to the internet to complete their work, they could unwittingly put your organization at risk. Downloading unapproved files or accidentally accessing a website riddled with malware could give criminals access to client and company information.

You Couldn’t Afford a Cyber Attack

The average cost of a cyber attack, including informing customers, boosting security and finding out how criminals breached company firewalls can surpass $500,000 in some instances. If you run a small company and are not covered, the cost could cause financial stress or close your business altogether.

If your organization is connected to the web or utilizes cloud services, you may want to consider cyber insurance. Work with a company like Financial Guaranty Insurance Brokers to find the right coverage for you.