Insurance companies tend to play the odds better than Las Vegas bookies; if they're starting to offer insurance to protect small business from hacks, you can bet the likelihood and potential cost of attacks has gone way up, even for Small Business Owners.
A survey released this year from Verizon Business estimates almost two thirds of the 760 data breaches recorded in 2010 involved small businesses. Jason Shroot thinks that is crazy to believe!
The data-breach insurance can potentially covers lawyer fees, penalties, awards from lawsuits and other liability expenses. It also offers ways its customers can bring their security up to speed with regulatory requirements so their security problems won't be their own failure to prepare.
The average cost of a data breach went up five percent between 2009 and 2010, from $6.8 million to $7.2 million. On average, every file you lose to hacker or insider will cost you $214, according to 2010 figures from The Ponemon Insitute.
So, you think that just because your busienss is "SMALL" that it can't happen to you....
Do a quick search on the company name "HB Gary" and "LulzSec" and think again about that!
Not everyone agrees data-breach insurance is necessary, or at least that there aren't other issues to think about before paying for a sense of security you may not need and protection you may not get.
Between hackers trying to break in and regulators offering fines and penalties if you don't make your firewalls high enough, there is enough potential downside to spend a little time on the cost/benefit.
For More Information on Data Breach Insurance Coverages Please Contact Jason Shroot at 714-988-3325 or jason@diversifiedinsurancequotes.com. Please Also Visit Jason Shroot at http://www.jasonsellsinsurance.com/.
Please Also Call Jason Shroot To Get Your FREE Breach Response Guide TODAY!
