Get Cyber Insurance Safeguarding Ecommerce From Hidden Threats
Real-World Examples and Statistics
Real-world examples of cyber incidents highlight the critical need for cyber insurance. In 2021, a major retail chain experienced a data breach that exposed the personal information of millions of customers. The company faced significant financial losses, legal fees, and reputational damage3. With a comprehensive cyber insurance policy, businesses can mitigate such risks and safeguard their operations.
Additionally, a survey conducted by Hiscox found that 61% of small businesses reported at least one cyber attack in the previous year, with an average cost of $25,000 per incident4. These statistics emphasize the prevalence of cyber threats and the importance of being prepared.
Cyber insurance is an essential component of a comprehensive risk management strategy for ecommerce businesses. By understanding the types of coverage available, the benefits of having a policy, and the cost considerations, you can make informed decisions to protect your business from hidden threats. As you browse options and search for the best fit, remember that safeguarding your ecommerce operations is an investment in your business’s future.
References
- Ponemon Institute: 2023 Cost of a Data Breach Report
- CoverWallet: Cyber Liability Insurance
- Security Magazine: Top 10 Data Breaches of 2021
- Hiscox: Cyber Security for Small Businesses