Here are 10 reasons why your small business needs cyber coverage now more than ever.
- Cyberattacks happen every 20 seconds. You’re more likely to experience a cyber incident than a fire or flood. A single click on a malicious link or an accidental data leak could lead to costly consequences.
- Any connected device can be a target. If your business uses smartphones, tablets, laptops, or cloud services, you’re exposed. These everyday tools are also gateways that cybercriminals look to exploit.
- Cyber risks evolve constantly. From phishing to ransomware, the threat landscape is always changing. Cyber insurance is designed to adapt to these evolving risks, helping protect your business now and in the future.
- A breach can cost more than you think. Nearly 40% of small businesses that experience a cybercrime spend $50,000 or more responding to the attack. That kind of financial hit can cripple operations — sometimes permanently.
- Cybercriminals are organized — and relentless. Hacking isn’t a lone-wolf effort anymore. Many attacks are coordinated by sophisticated criminal networks operating in foreign countries.
- Small businesses are prime targets. Nearly half of all data breaches affect small businesses. Why? Because many don’t have the resources to maintain robust cybersecurity — making them easier to exploit.
- It’s more affordable than you think. Compared to other types of business insurance, cyber coverage is relatively low-cost. Yet it offers high-value protection when you need it most.
- You don’t have to be “hacked” to suffer a loss. In 2025, researchers uncovered over 16 billion leaked login credentials tied to everyday services like Google, Apple, and even government systems. These weren’t all targeted attacks — many stemmed from malware and unintentional leaks.¹
- Most small businesses don’t budget for cyber risk. Without insurance, the costs of a breach — legal fees, business interruption, customer notification — can quickly overwhelm your bottom line.
- Cyber insurance covers more than you think. The right policy goes beyond just data breaches. It can include protection for ransomware, fraudulent wire transfers, telecommunication fraud, identity theft, and even third-party liability. The bottom line: No matter your industry, size, or location, your business faces digital risks every day. Cyber insurance provides essential financial protection and peace of mind in a world where one cyber incident can change everything.
¹Source: Time, “Billions of Passwords Have Been Leaked in Massive Breach, Researchers Say,” June 2025
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