The Source for Cyber Insurance News, Insights and Data
The Federal Communications Commission (FCC) has released a set of ten cybersecurity tips for small businesses. These tips are designed to help small businesses protect themselves from cyber-attacks. FCC Tips The FCC has also created a free tool called the Small Biz Cyber Planner to help small businesses create customized cybersecurity plans. You can find … Read more
The provider of “Adaptive Cyber Insurance” has launched its first UK-specialty product and hired Catherine Aleppo as its new sales director for the country. Aleppo previously led the cyber insurance department of a UK broker. She’s an example of the growing bench of experienced cyber insurance executives, very much needed by the rapidly expanding industry. … Read more
Recovering from a cyber attack can be costly. But there are many resources to educate you and protect you from the threat and the harm of a cyber security attack. The Federal Trade Commission (FTC) is a good resource for advice. Here are some of their tips on Cyber Insurance protection for small businesses. Cyber … Read more
“…17.3%** of SMEs did not have cyber insurance in 2021 due to it being too expensive, while 29% cancelled their policy to cut costs. Smaller businesses were found to be most exposed to rising costs, as only 21% of micro businesses had cyber insurance, compared to 40.1% for small businesses and 54.3% of medium businesses***.” … Read more
Good summary, linked at bottom, from @ElanaAshanti based on detailed research from Adrian Mak @AdvisorSmith. We view the data as indicative/directional due to cohort of companies* analyzed (see below). Top 5 industries by cost of cyber insurance* for a small business, according to Advisor Smith analysis: Payment Processing $2,449 Financial Services (other) $2,429 Investment Services … Read more