The Source for Cyber Insurance News, Insights and Data
With nearly half of small businesses lacking a cybersecurity budget in 2021, and over half having no cybersecurity measures in place by 2022, small businesses are increasingly becoming low-hanging fruit for cybercriminals, according to SentinelOne. As cyber insurance and security become essential new costs, rather than replacements for other expenses, Digital Beachhead is offering an … Read more
Blumira and Trava Security have announced a strategic partnership aimed at helping small-to-midsize businesses (SMBs) manage cybersecurity challenges, such as limited budgets, insufficient cyber-skilled training among employees, and the steadily growing number of cyber-attacks. The rise in cybercrime has led many companies to invest in cybersecurity software. However, smaller businesses often struggle to access sophisticated … Read more
In the cybersecurity battlefield where size matters, small and medium businesses (SMBs) are taking the brunt of relentless ransomware assaults. Shockingly, these nimble enterprises are three times more likely to be in the crosshairs of cybercriminals compared to their larger counterparts. The toll? A staggering $2.4 billion in losses was incurred by SMBs in 2021 … Read more
In the face of escalating cyber threats, biBERK Business Insurance urges every business owner to confront the risk of cyberattacks head-on. With cybercriminals employing sophisticated methods such as phishing, ransomware, MITM attacks, and brute force attacks, small businesses are not immune. You can find a link to their full guide, a very good primer, at … 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