Cyber Risk Insurance Coverage

Did you know? 47% of small businesses had at least one cyber attack in the past year. 44% of those businesses had two to four attacks. Targeted cyber attacks affect businesses of all sizes. Check out this informational handout on cyber attacks and how to stay protected with commercial insurance!

Who is at threat for a cyber breach?

Targeted attacks affect businesses of all sizes:
- 41% are large businesses
- 25% are medium businesses
- 34% are small businesses 1
Hackers are not necessarily targeting businesses that traditionally have confidential information.
They are targeting based on the ease of breaching the system.

Did you know?

47% of small businesses had at least one cyber attack in the past year. 44% of those businesses had two to four attacks. 2
The average cost of a cyber security incidents in a year range from $34,604 for small business to $1.05 million for large businesses. 3
Cyber policies also provide coverage for paper files.
The average cost of a cyber breach per breached record is $148. 4

Common Cyber Coverages

Network & Information Security Liability
Communications & Media Liability
Regulatory Defense Expenses
Crisis Management Expenses
Security Breach Remediation & Notification Expenses
Computer Program & electronic Data Restoration Expenses
Funds Transfer Fraud
E-commerce Extortion
Business Interruption & Expenses

For more information about cyber liability policies please contact:

Clark Woodard

President

D: 919.582.9487 | F: 919.856.0789

3101 Glenwood Avenue, Suite 105 | Raleigh, NC 27612

1 Travelers Cyber Risk Coverage Highlights Symantic Internet Security Threat Report 20

2 2018 Hiscox Small Business Cyber Risk Report

3 2018 Hiscox Small Business Cyber Risk Report

4 https://securitytoday.com/articles/2018/07/17/the-average-cost-of-a-data-breach.aspx