Cybersecurity insurance is an essential policy for your business. It may be your last gate before you lose your business. An umbrella policy, even with “no errors and omissions,” will not help you in the event of a cyber attack. And we only see cybercrime activity increase.

A cybersecurity policy will protect you from ransomware, overhead costs, and recovery time. The average recovery time for a business hit by ransomware or a cyber attack is three and a half weeks. That’s three and a half weeks that your business is entirely down.

Here’s how it works. You will first have a forensic company analyze the hack. They generally take every computer, laptop, tablet, server, etc., for at least two weeks. After the investigation, your IT company will need another week or more to wipe everything clean. That would have you down for nearly a month, at best.

If something like this happens to your company, your cyber insurance policy will help protect and recoup that cost and lost revenue. Cyber insurance will cover you in the event of a big hit. We have cyber insurance for our company and highly recommend our clients have these policies.

You cannot have too much coverage for cybersecurity. If you don’t have one of these policies, schedule a call with us. We can recommend a couple of them.