Over the past decade, cyber-attacks have become increasingly more frequent. So frequent in fact, that it seems like we can hardly take a breath in between news of notable cyber-attacks that have American consumers rushing to change their passwords or take some other precaution to guard their data, which might have already been compromised.
From large corporations and financial institutions to small local businesses, it seems data breaches, hacks, ransomware, and phishing have become common. Worst of all, they have also become more aggressive and insidious.
Although the cyber-attacks we hear about most are those that occur within large corporations, small and mid-sized businesses now account for 62% of all cyber-attacks*. As a result, the need for a Cyber Liability policy has become a necessity for businesses of all sizes.
What Does a Cyber Liability Policy Cover?