Protect Hospitality Success Secure This Exclusive Cyber Quote
Real-World Examples and Financial Context
In recent years, several high-profile data breaches have highlighted the importance of cyber insurance in the hospitality industry. For instance, the Marriott International data breach in 2018 exposed the personal information of approximately 500 million guests, resulting in significant financial and reputational damage3. The incident underscored the need for robust cybersecurity measures and comprehensive insurance coverage to manage such risks.
Financially, the cost of cyber insurance varies based on factors such as the size of your business, the amount of sensitive data you handle, and your existing security measures. On average, small to medium-sized hospitality businesses can expect to pay between $1,000 to $7,500 annually for a cyber insurance policy, depending on the coverage limits and deductibles4.
Ultimately, investing in cyber insurance is a prudent decision for any hospitality business looking to safeguard its operations and reputation. By taking proactive steps to secure your digital assets, you not only protect your guests and employees but also position your business for long-term success.