Why Cyber Insurance

Why Cyber Insurance?

With cyberattacks, especially ransomware attacks, on the rise, cyber insurance has become more important in helping keep small businesses safe. It is estimated that 43% of cyber-attacks are aimed at small businesses, but on 14% of small businesses are ready to defend themselves.

Why We Recommend Cowbell Cyber?

Cowbell’s cyber policies are admitted, written on “A” rated paper, and available nationwide. Cowbell’s goal is to deliver value to policyholders on day one with a closed-loop approach to risk management that includes: continuous risk assessment, recommendation for risk improvement, and cybersecurity awareness training for every employee.

Here Are A Few Risk Factors Small Businesses Should Consider:

• Statistics. A small business is hacked roughly every 19 seconds, and 25% of small businesses filed bankruptcy protection after a data breach. These numbers highlight how small businesses are at higher risk from cyber threats.
• Internal Errors. Human error and software vulnerabilities are constant threats to a business’s security operation. 88% of data breach incidents are caused by employee mistakes, which shows the lack of cybersecurity awareness among many working professionals.
• Underestimated Risk. Although nearly half of cyberattacks affect small businesses, many are unaware of the risk, simply because cyber incidents often go unreported at small businesses.
• Cowbell Cyber makes cyber insurance easy by delivering customized, standalone cyber policies with robust coverages tailored to the unique needs of your business. In connection with CoverEase, their AI-powered customized policies bring value through continuous risk assessment, risk improvement resources, and cybersecurity training for employees.

Reasons To Get Cyber Insurance – View The Full Document Here

• • Mitigate financial loss from a cyber incident
  • Recover quickly from a cyber incident – Cowbell brings experts when you need them.
  • Visualize and monitor your risk exposure, implement training to increase cyber resilience

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