Cybercrime is a very real problem for small businesses in Connecticut. Hackers are coming up with new ways to break into networks, steal confidential customer data, and wreak havoc on business systems. Connecticut is among the top riskiest states in the US when it comes to cybercrime, with almost three-quarters of Connecticut businesses having suffered a cyberattack in recent years.
Cybercriminals target small businesses because they have weaker security and less technical expertise on staff. Small businesses can’t afford downtime, so they’re also more likely to pay to get their data back. At an average cost of $80K to recover from a security breach, smart small business owners are investing in cyber insurance to protect them when the inevitable finally happens.
Not only can cyber liability insurance cover the costs incurred to you for getting your data back, but it can also cover third-party contingencies such as customer notifications and credit monitoring services for those affected. The demand for most ransomware attacks alone is in the thousands of dollars.
Cyber insurance costs can vary depending on the business size and risk profile. Companies can work with cybersecurity experts such as Connecticut-based NSI to help mitigate some of their risks. MSP’s like NSI provide cybersecurity education, proactive monitoring and response for cybersecurity events, and endpoint protection for mobile workers.
Learn the numbers on cybercrime in Connecticut, and why getting cyber insurance in smart, in the infographic below.