<menuitem id="z1bjh"><ruby id="z1bjh"></ruby></menuitem><var id="z1bjh"></var>
<var id="z1bjh"></var>
<var id="z1bjh"><dl id="z1bjh"></dl></var><var id="z1bjh"><video id="z1bjh"></video></var>
<cite id="z1bjh"></cite>
<var id="z1bjh"><video id="z1bjh"></video></var>
<menuitem id="z1bjh"><video id="z1bjh"></video></menuitem>
<cite id="z1bjh"><video id="z1bjh"></video></cite>
<var id="z1bjh"><video id="z1bjh"></video></var><var id="z1bjh"><strike id="z1bjh"><thead id="z1bjh"></thead></strike></var><var id="z1bjh"></var>
<var id="z1bjh"><strike id="z1bjh"><thead id="z1bjh"></thead></strike></var>
<cite id="z1bjh"></cite>
<cite id="z1bjh"><video id="z1bjh"><menuitem id="z1bjh"></menuitem></video></cite>

Why Do Small Businesses Need Cyber Liability Insurance?

Topics: Agent Resources Cyber Liability

Think your small business client is safe from hackers? Think again. Cyber crooks target small businesses at a higher rate than larger businesses. The 2018 Verizon Data Breach Investigation Report found that 43% of cyber attack victims were small businesses. 60% of these businesses never reopened after they were hit with by a cyber attack. 

According to NetDiligence’s Cyber Claims Study, the total cost of cyber and privacy-related claims topped $114 million in 2016. Personally identifiable information was the most reported data breach, with credit and payment card information being one of the most frequently stolen pieces of data. Maintaining cyber liability insurance will help keep companies operational after an attack.

So why do cybercriminals seek out small businesses? They're often easy targets. Small businesses are often prey for identity thieves because they typically have less security in place than larger companies. Don't let your client's business be a target! Set them up for success with Cyber liability insurance from AmTrust Financial.

A cyber liability insurance policy augments and supports the business’s efforts to recover in the event of a cyber-attack. It will provide access to expert resources and financial support through investigation, notification, recovery and post-recovery activities related to a data breach event.



Probably the most critical potential consequence of a data breach is damage to the company’s reputation. While major retailers like Target and Home Depot may be able to bounce back from that type of hit, small businesses can have a harder time winning back customer trust.

Customer Financial Data

If financial information is compromised during a breach, your business could be hit by heavy fines from credit and debit card companies. This is particularly true if the company was not fully compliant with requirements from the PCI Security Standards Council, a global forum for implementation of account data protection measures.


If you don’t have a detailed breach response plan, your client could be focusing on the breach instead of serving your customers. In the end, their business suffers.

Stolen Funds

If your client's business computer system is hacked and cybercriminals make a false wire transfer using their online banking credentials, the bank is not responsible for lost funds, as long as they followed the proper security protocol on their end.

How Can My Clients Prevent and Prepare?

What are ways that agents can assist their clients to prepare for a cyber attack?  

  • Have a breach response plan: The sooner your client alerts stakeholders, the better the outcome.
  • Have a breach response team: A cross-functional team coordinates efforts across the company.
  • Establish data encryption: This is critical to keeping sensitive data safe.
  • Train employees on hacking trends / prevention: People are key to prevention and preparedness.
  • Get cyber liability insurance coverage: When a breach happens, company assets will be covered.

While there’s no way to guarantee your clients won’t get breached, there are steps your clients can take to reduce the cost if a breach does occur. Clearly, the best way to mitigate the cost of a breach is to be prepared: secure the business, get a plan in place, and make sure everyone knows their role in preventing and responding to a breach.

Protect Against the Costs of Cyber Breaches

AmTrust appointed agents understand the needs of their commercial customers, and have access to coverage options and innovative solutions that help protect policyholders against financial loss and damage stemming from cyber threats.

Our focus on providing small and mid-sized businesses with affordable, effective cyber liability insurance lets our appointed agents tailor policies and coverage options to the individual needs of insureds. AmTrust cyber liability insurance offerings help policyholders avoid the real costs of a cyber breach. Contact our team for more information. 


Time Zones