January 28, 2019
In recent years, cyber attacks have emerged as one of the most significant threats facing organizations of all sizes. The Internet and other network operations have created risks that were unheard of less than a decade ago. When cyber attacks (such as data breaches and hacks) occur, they can result in devastating damage, such as business disruptions, revenue loss, legal fees, and forensic analysis and customer or employee notifications.
It is important to remember that no organization is immune to the impact of cyber crime. As a result, cyber liability insurance has become an essential component to any risk management program. Far too often, our teams at RRA see business owners and leaders dismiss the need for this coverage. Only 33% of companies have cyber insurance. The biggest reason for those without stated, “it’s too complicated,” reported Statista.com.
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As always, contact your Agent Owner or Service Team for questions. We’d be happy to complete an insurance review if you are not currently insured with RRA. Our Team