AssuredPartners London

We are a small business, Do we need Cyber Insurance?

Whilst small businesses tend to have smaller risks than larger businesses, small businesses still hold customer and employee information, making them prime targets for attacks. The types of information that these hackers target range from online banking credentials to social security numbers and since these criminals are motivated by cash, business banking information needs to be safeguarded as much as possible.

Year over year, the worldwide spend for cyber security continues to grow: $71.1 billion in 2014 (7.9% over 2013), and $75 billion in 2015 (4.7% from 2014) and is expected to reach $101 billion in 2018.

Organisations are starting to understand that malware is a publicly available commodity that makes it easy for anyone to become a cyber attacker. No matter your size, it is important to remember that you have a duty of care over your client’s information.

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