Cyber insurance is increasingly becoming essential for all companies as the risk of cyberattacks against applications, devices, networks, and users grows. That is because the compromise, loss, or theft of data can significantly impact a business, from losing customers to the loss of reputation and...
A cyber insurance liability policy is the only way to effectively protect your business from potential losses due to cyber crime incidents. And based on the growth rate for these types of crimes targeting logistics service providers, it’s a matter of ‘when’ and not ‘if’ for most companie...
Cyber insurance is a form of insurance for businesses and individuals against internet-based risks. The most common risk that is insured against is data breaches. Cyber insurance typically includes indemnification from lawsuits related to data breaches, such as errors and omissions. It also covers lo...
Multi-factor authentication(MFA) solutions to positively confirm the identity of remote employees and privileged users such as system administrators and third-party IT support vendors. MFA is a core requirement for cyber insurance—especially for authenticating privileged user access. Many insurance compani...
Why is cyber insurance important? The loss, compromise or theft of electronic data can negatively affect a business, resulting in the loss of customers and revenue. Business owners could be liable for damages stemming from the theft of third-party data. ...
Because every corporation has their own set of risks and coverage preferences, the cost of cyber insurance is never a “one size fits all” structure. Size of the business and annual revenue are also factors that affect insurance premiums. Industries such as health and finance are major targets...
How Much Does Cyber Insurance Cost? Many small businesses can buy cyber insurance for about $1,740 per year.1Thepremiumyour company will pay for a policy depends on several factors, including the size and nature of your business, the amount of sensitive data you handle, and the security mea...
Any size business with cyber insurance knows what they do and do not need. How do they know? Let Backblaze help you.
To sum it up, cyber insurance is a crucial part of any company’scybersecurity program. Like most types of insurance, it’s better to have it and not need it than to need it and not have it. Recent Business Operations Articles
Cyber insurance is especially vital for organizations that might incur significant costs or losses as a result of a security incident. For example, a data breach of an organization with access to extremely sensitive information — such as financial or healthcare data — may result in significant ...