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The Wannacry Cyber Attack: What Should You Know?

News over the weekend of a massive scale cyber-attack on businesses and governments brought many distant fears to a grim reality. While the initial damages are now relatively contained, the aftermath of costs, repair, and extra security efforts have only begun. This global cyber-attack demonstrates a capability that is remarkably disruptive and effective against larger organizations.

But beyond the truly sensational headlines about ransomware, there is another steadily growing threat to small businesses: the opportunistic cyber attack.

Here are a few facts about cyber criminals and data breach you may not have known:

- 40% of the data breach cases are from people making mistakes, such as losing laptops and flash drives.

- 36% are system glitches, such as software updates, which inadvertently expose sensitive private files.

- 24% are malicious and criminal attacks.

Cyber Liability is not necessarily an exposure for every business, but for some it is essential. Policies can offer unique coverage to pay for ransoms, restore/repair systems, or even cover public relations representation for the breach fallout.

If you have questions regarding your current policy or if cyber liability is right for your business, please contact us.

#insurance #cyberliability #wannacry #databreaches #smallbusiness

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