Here are 10 reasons your clients may need cyber insurance.
Business may grind to a halt
A cyber attack can be costly
2018, costing the UK economy around £11bn.
Regulators can levy hefty fines
With increasing focus on data protection regulation, such as GDPR, cyber insurance may include cover against defence costs, fines and penalties following unauthorised disclosure of personal and/ or confidential information.
A company's reputation may be damaged
Computer insurance alone won't cover lost data
Acting fast is key
Cyber insurance reassures third parties
Cyber crime is increasing
2. Ponemon Institute. 2018 Cost of a Data Breach Study: Global Overview. July 2018.
3. GOV.UK - Cyber Security Breaches Survey 2019.
4. 2018 Cost of a Data Breach Study: Global Overview. Ponemon Institute.
5. PwC’s Global Economic Crime Survey 2018: UK Findings. 2018.
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