Protect Profits With Ultimate Cyber Liability Insurance Bundle
Real-World Impact and Statistics
The financial impact of cyberattacks is staggering. According to a report by IBM, the average cost of a data breach in 2023 was $4.45 million, a figure that highlights the necessity of having adequate insurance coverage3. Small and medium-sized enterprises (SMEs) are particularly vulnerable, as they often lack the resources to recover from such significant financial hits without external support.
Additionally, the frequency of cyberattacks continues to rise, with the FBI reporting a 69% increase in complaints of internet crime between 2019 and 20224. This trend underscores the urgent need for businesses to proactively manage their cyber risks through comprehensive insurance solutions.