The growing number of businesses taking advantage of cyber risk insurance is a surefire sign that even the big guys are prone to become victims of online misdeeds. Businesses today rely heavily on computers and the Internet to store data and information that range from logbooks to confidential documents. Even the private lives of people, along with their conversations and interactions with each other, can be stored and accessed virtually with just a few keys and codes.
WallStreetJournal.com reported a dramatic increase of businesses buying cyber insurance last year 2013. Why so? “Last month, federal prosecutors unsealed an indictment of a group of Eastern European hackers for allegedly stealing credit-card data from several companies, including J.C. Penney Co. and 7-Eleven Inc.” It’s crystal clear that things are getting riskier. AllGov.com predicts that the number of businesses in the United States getting cyber risk insurance will double by the end of the year. With such a dramatic increase, things are getting more difficult for businesses to protect their own assets. That’s right: it’s becoming a necessity for all businesses.
According to ComputerWeekly.com, cyber risk insurance includes protection of privacy and information, intellectual property, and network from third-parties. Availing cyber risk insurance will keep you and your business worry-free as it will help keep your operations simple and easy.