What Could a Cyber Security Breach Cost Your Business?

Almost every week on the news there is another report about computer data being leaked. Globally, it’s estimated that cybercrimes cost businesses $365 – $375 billion annually, and some suspect that figure is low. If the data of your business is hacked, it will cost you around $150 per record breached to clean up the mess. How many customers do you have? Now multiply that by 150, and imagine having to pay that out if a hacker tries to get your customer’s credit card information. That is why you need an insurance policy for cyber liability in PA.

Not only does a cyberbreach cost your business money, unless you have insurance to cover your liability, but it costs employees. In the United States, cybercrime has resulted in a net loss of 200,000 jobs in 2014. You also lose your reputation. Customers won’t trust you with their credit card or healthcare data if you’ve been breached.

Reduce your cyber liability in PA by obtaining insurance to protect your assets. Work with your insurance company to implement policies and the structure that protects valuable data. Even small businesses are targeted because they are actually less likely to have the security in place like a bigger company. Your business has data that thieves want. You have locks on your doors and windows, but the real threat is your computers.