Can your company survive having a data breach, cyber attack, or crypto virus cause the loss of all your company data?
Most data suggests that 60% of small companies go out of business within six months of falling victim to a data breach or cyber attack.
Cyber attacks cost businesses of all sizes about $200k on average, according to report by insurance providers with about 43 percent aimed at small business. Those small business that are attacked, only about 14% are prepared to defend themselves or have cyber insurance in place to survive the storm of possible legal and IT costs that can quickly follow.
- 68% of small business has experienced a cyber attack in the last 12 months (2019)
- 47% of businesses between 100 – 1,000 employees are hit with a ransomware attack last year.
- Average cost to remediate a ransomware attack is $505,827 for a company between 100 and 1,000 employees.
- Average cost for a SMALL business data breach is $120,000 to $1.24 million (2019)
- Of small business, 37% suffer financial loss, 25% file for bankruptcy, and over 9.7% go out of business.
- Part of these loses included liability for lost credit card data (some were hundreds of thousands of dollars), plus the loss of credibility with your customers.
- Fortunately, over 89% with cyber insurance said it covered their losses—and 87% were HAPPY they had it.
- Especially, when you consider the average annual cost for $1 million in coverage is between $1,000 to $7k per year (depending on size and industry). The cyber insurance is a fraction of the cost of the overall IT budget. Yet having cyber insurance in place could SAVE your business.
So, how do you protect your business?
Good cyber security and training helps—but in all these cases… The results of getting HIT with a Cyber Attack (even with everything in place) — can in many cases SHUT YOU DOWN, unless you already have a good cyber security policy in place.
See CNBC Article: Cyberattacks
Why is cyber insurance important?
The loss, compromise or theft of computer related data can have a negative impact on a business, including the loss of customers and revenue.
Businesses may be liable for damages stemming from the theft of third-party and customer data.
Cyber liability coverage is important to protect businesses against the risk of cyber events, including those associated with hackers, terrorism, viruses, crypto-viruses, and related risks.
Cyber-risk coverage can assist in the timely remediation of cyber attacks and incidents.
Protect your business with Cyber Security Insurance.
We have associates that can provide multiple quotes and help you identify the best provider and policy to meet your business needs.
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Protection within your budget
Cybersecurity insurance protects businesses against financial losses caused by cyber incidents, including data breaches and theft, system hacking, ransomware extortion payments and denial of service.
Now that you can see some of the advantages of cyber insurance, who should you select—they are NOT all the same (especially, when all is said and done—it is still best to REDUCE the risk in advance).
Concerns on getting Cyber Insurance:
Help is just a few clicks away, let us get your company a policy that meets your needs at a reasonable price, yet avoids the concerns listed below!
- Some do not provide or recommend the right coverage. When considering cyber insurance, you need to make sure it covers the most common problems including breach, ransomware, cyber-crime, cyber terrorism—plus has the capability to properly evaluate your risk (based on actual data, not black-box formulas).
- Not all carriers help you avoid a breach. They don’t do a proper analysis in advance of your potential problems, do not provide security awareness training, a risk reduction plan, or proper information—critical if a problem occurs.
- Most do not provide immediate help. Most insurance companies do not know your business, and require you to hunt for an approved security expert if a breach occurs
- They don’t recommend or leverage existing cyber-security tools. You need tools that will be effective in preventing and responding to CITY cyber attacks, plus FAST expert help, preferably from someone who knows your business, IT systems and team.
- Most do not have any sources to help FIX your breach. Some will pay to replace, but do little to help you recover (which is the greater loss)—and most don’t even know who can help you.
Some of the Best Cyber Insurance in THE USA
There are FIVE MAIN reasons to consider our partners for Cyber Security
1. Comprehensive Cyber Insurance
2. BEST pre-breach services
3. BEST Breach Response
4. Use of the BEST cyber tools
5. Industry’s BEST distribution w/Local Security Support
Get a free No obligation quote today.
What is Cyber LIability Insurance?
- It covers you WHEN you still get hacked (ransomware or breached)
- Pays to get your systems restored (when possible), or replaced, so you can get your business back up and running
- Covers the costs of lost revenue while your business is down
- Helps pay to harden your systems—to reduce future attacks
- Drastically reduces liability from exposed confidential data
- Helps remediate your reputation
- Protects you from the cost of damages to third parties
SOME OF THE Best Comprehensive Cyber Insurance in THE USA
- Broad First-Party Coverage covers losses and damages to your company’s own computers, network, IT systems and business that result from a cyber-attack.
- Complete Third-Party Coverage It covers losses and damages to third parties, such as customers or related business, that result from a cyber-incident.
- Clear language and explanations The company will help you understand in simple language what cyber insurance covers and what it does not.
- Compares Your Cyber Coverage to Your Peers Our Partners provides clear metrics of how your cyber coverage compares to similar sized companies in your industry.
BEST Pre-Breach Services in the USA
- Comprehensive Cyber Risk Analysis. Our partners creates a detailed individual cyber risk analysis based on the industry’s best learning cyber risk model which incorporates over three thousand potential risk factors. This model is based on the world’s largest data set of cyber losses and tracks nearly a million companies and over $10bn in insurance premiums.
- Auto Alerts MSP if Issues Emerge. Assigned Managed Service Providers (MSP) monitor updates, breaches, and risk and receive automatic notification so they can fix problems before they escalate.
- Analyzes Your Current IT and Cyber Stack. Our Partners works directly with you and your MSP to determine the current state of your IT and cyber security stack. You can see your security risk compared to similar organizations of your size and industry.
- Breach Preparedness and Security Awareness Training. Our partners provides cyber security education to your team to pre-emptively protect your company.
We have been helping businesses with technology since 1999 – Omega Magnus Corp.
Cyber NiNJA – White SPACE
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More Advanced Cybersecurity is AVAILABLE to protect your business.
The bad actors are only getting better at attacking businesses, is your company protected?
On request we can provide demos for most of the solutions shown on our website.
Provide us the information on what services you would like to have quoted.
Most services have direct support, but if you can not find the number or need additional help let us know.