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Ponemon Institute reported in 2017 that cyberattacks on average cost medium-sized businesses an average of $2.235 million in damages.
And they're on the rise.
Is your business prepared if you're hacked?
Do you have enough savings to cover identity protection services for every customer if you are?
Call 401-946-4448 for a quote now.
Jean Martin Insurance's new Cyber Insurance can help protect your business from a data breach and potentially save you millions!
The report studying cyber terrorism on small to medium businesses showed that of the 60% of the polled companies, attacks are becoming more sophisticated and damaging each year.
Costs you might be responsible for:
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A year of credit monitoring services for each customer affected
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Cyber forensics to find the hacker entry point
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Reputational damage to your business
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Civil damages from unhappy customers
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Possible extortion from the hacker, holding the data at a ransom
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Interruption of business
Almost every business collects at least an email from customers. It is your responsibility to protect their information.
In 2019, 7.9 billion personal records were breached, and remedying these breaches is involved and expensive. Needless to say, if a hacker steals this data, it would be inconvenient and would cost the business money.
That's just an email address.
What about credit cards?
What about business or personal addresses?
What about medical records?
Protect your business with Cyber Insurance from Jean Martin Insurance
Call 401-946-4448
for a quote now.
What does Cyber Insurance cover?
Having to notify your customers that their personal information has been stolen is a public relations nightmare.
Cybersecurity insurance is designed to lessen the blow of these losses and get you back in business as fast as possible.
Call 401-946-4448 for a quote now.
Brand Reputation Damage: Your business was built on a good reputation; a preferred policy will provide services to help mitigate the damage to your brand.
Cyber Forensics: A computer forensics team working with your attorneys will determine the severity of the breach and prevent further damage.
Civil Damages: Some of your customers may take legal action against you for not following data regulations.
Interruption and Data Recovery: Shutting down computers brings almost every business to a halt. Recovering the lost data is crucial to getting your business back up and running.
Cyber Extortion: Depending on the data, some hackers will hold your customer data for a ransom.
Stolen Paper Documents: Jean Martin Cyber Insurance also covers stolen written information.
Wondering if this is right for your business?
Check out these examples:
contact form
If your website has a contact form, as most do, your business collects customer data. As mentioned, the more sensitive the data, the more costly the breach clean-up. A data breach of credit card numbers is not as expensive as private medical records but it could still be quite costly to the business
wordpress contact form
If you have a WordPress website, it uses plug-ins and themes that need monthly maintenanc and updating. If one of these plug-ins goes without updates, a hacker might abuse this vulnerability to upload ransomware to your website and demand payment to return your files.
A first-party Cyber Insurance Policy can cover this payment so you can return to work.
Email phishing leads to a data breach
An employee at a doctor's office clicks a link in a phishing email that appears to have come from a vendor. A cybercriminal accidentally gains access to the office's entire server, holding medical records for ransom. The office cannot pay the ransom to the hacker, so they sell the documents on the dark web, and the office must now pay for a year of credit monitoring for each patient's lost data.
Credit card number
During a busy day, a local Rhode Island HVAC company writes a customer's credit card number on a sticky note to be entered into their secure system later. While away from the front desk, a customer walks in and takes a picture of the sticky note to buy a camera on Amazon.