Since the advent of the internet, cyber attacks and data breaches have become one of the biggest threats to businesses, and the most valuable currency is customer data. Cyber criminals have become some of the most sophisticated and stealthy offenders, simply because they can act covertly from anywhere with an internet connection.
In the world of sensitive customer records and data, virtually all consumer and company data is prized by hackers and worth protecting for your business. The potential impact to one’s business, for some, could make it nearly impossible to recover from a cyber attack. Having just one breach incident occur can mean the difference from running your business one day to closing shop the next.
As breaches become more common and destructive, organizations are still perplexed about coverage and, ultimately, uncertain about cyber insurance being a necessity. In this era of increasing regulation and public awareness of data security risks, you don’t want to risk critical information falling into the wrong hands. Every business should consider their exposure level in the event that sensitive data is compromised, and cyber security needs to be a top priority.