Last month 22 cities in Texas were attacked by hackers. They used ransomware and held all of their important data unless they paid up. Imagine walking into your office and all of your employees' computers were locked on a screen saying "You Have Been Hacked, if you would like your computers and data back, you need to pay us x amount". Not only can you not conduct business, but all of your important information, accounting logs, and even all of your customers information. You, your employees' and your customers' personal information are now owned by a ring of unscrupulous hackers. If you can afford the ransom amount, who is to say that they will give all of it back? They may come back and ask for more money for the rest, or maybe they don't give it back at all. Quite possibly, all of the important personal information is now for sale on the dark web.....
According to the 2018 Verizon Data Breach Investigations Report, 58% of cyber attack victims were small businesses (organizations with fewer than 250 employees). 60% of these victimized businesses will close their doors for good.
Every business should have preventative measures in place as well as ERM's cyber insurance. Businesses who have cyber insurance and risk management services through ERM have a much lower risk of being hacked. If an ERM cyber insurance client is hacked..... they are covered. Coverage for downtime, for services needed to remedy the breach, and reputational damage.
There are two steps you need to take immediately to protect yourself, your business, your employees, and your customers. See our blog on cyber protection to learn more.
Call an ERM insurance agent to learn more today! 949-222-0444