The average cost of a data breach is $3.9 million, according to the Ponemon Institute’s Cost of a Data Breach report. Those costs include fees, remediation, continuity costs, and lost business — and they’re so steep, they could spell the end of a business. Cyber risk insurance means an organization doesn’t have to bear those costs alone.
Armor Coded recommends Erion Insurance Group as your Cyber Liability & Privacy Insurance provider. Erion will customize your policy to your needs and will work with you to ensure your coverage is cost-effective and comprehensive.
Data and technology are critical to the ongoing operations of a business. The compromise of confidential information stored on your computer, the cloud, or a storage device could cause you to lose access to proprietary data and systems. The downtime can be lengthy and costly, a reality that many business owners know all too well – studies have shown that one in four companies have suffered a cyber attack. A breach can also lead to significant liabilities, legal expenses and regulatory costs.
Cyber security is fraught with complexity, and even the most experienced Directors can find themselves overwhelmed by the questions that arise in the wake of an attack, such as:
We’re all familiar with the importance of insuring our assets against physical damage, but your intangible assets are equally as important!
Erion Insurance Group highly recommends considering the following items regarding your cyber protection:
Cyber Insurance can be secured with varying levels of protection. We use specialized insurance markets to provide broad coverage options to match your business’ specific needs.
Tell them Armor Coded sent you.
