Besides Data breaches, now business owners have to worry about ransomware. Fortunately, it is something that can be covered under a Cyber Liability policy.
Some examples of companies that could be an enticing target for these hackers are realtor offices, medical offices, attorneys, lenders, manufactures, and product wholesalers.
Businesses that outsource data hosting and cloud computing instead of keeping paper files in a file cabinet in the office, for example, present a unique risk. The extortion amounts can be significant, but additional costs from downtime can be as expensive, if not more. It’s important to have a cyber insurance policy that addresses these issues as well as other expenses and losses which can result from any facet of a cyber-attack.