Cyber Liability

In today’s cyber dependant world, more and more companies are facing the risk of online attacks that can prove detrimental to their business.

Many large companies have been at the forefront of these attacks from LinkedIn to E-harmony with tens of thousands of customers accounts being hacked, not only damaging business but also their reputation. Data leaks and losses can be PR nightmare and this loss of trust with a company, in turn could result in loss of profit.

Risks can run from one single laptop with a large amount of data on to an online company intranet.

Unfortunately many companies don’t realise the full implications of keeping data secure until there is a breach. By taking a proactive approach to online threats, allows business to  tick over with minimal interruption.

According to the Ponemon Institute’s 2011 Cost of a Data Breach Study;

• The average cost of a data breach to an organization in 2011 was $5.5 million
• In 39% of organizations suffering a data breach, the breach resulted from a lost or stolen mobile device, including laptops, smartphones, tablets and flashdrives.
• Data breaches are recurring. About 3 in 4 organizations said they had suffered more than one data breach

Cyber Liability is heating up to be a growing concern amongst the business community and can’t go unnoticed. In a world that is so reliant on technology, it is vital to insure against such threats.
Here at Russell Scanlan, we understand that online aspects of your business are equally as important as offline, Speak to us about having the right cover in place to protect against cyber threats.