Cyber Risk Insurance: Choosing the Best Policy for Your Small to Medium-Sized Business
If it seems like more companies are getting cyber risk insurance these days, it’s because they are. Companies are buying the insurance because cyber crime is growing, and so is the damage it can do. In fact, according to the latest stats from security.org, the United States is the most expensive country in the world to have a data breach, with the average incursion costing a company $8.64 million in 2020. Is it any wonder that the Cyber Risk Insurance market is expected to grow to $20 billion by 2025? Here’s what you need to know, before you buy a policy for your business.