More than 70 percent of all cyber attacks target small businesses, and the average cost of a breach costs approximately $380,000 (according to a study by The Ponemon Institute). That's is why Cyber Liability insurance is increasingly playing a more important role in how businesses are protecting their assets.
As a business, it can be challenging to have the resources and understanding to have all of the security practices in place to mitigate a data breach. From ensuring employees use security best practices and strong passwords to having payment card encryption and secure internet connections, there are a lot of pieces that make up a strong cyber security plan. One critical aspect that can help alleviate some concerns for a business is Cyber Liability insurance.
We are excited to share that Cyber Liability insurance is fully integrated with the CoverWallet platform, providing businesses with a seamless way to get quotes and buy insurance in real-time.
The number of small businesses buying insurance digitally continues to grow, and CoverWallet works with carriers and provides technical expertise to enable them to offer insurance online, end-to-end. Our team of experts works alongside carriers to design APIs, reduce the friction of underwriting, and measure performance to optimize results.
Our dynamic platform uses logic and conditionality to deliver businesses a frictionless process of getting insurance coverage. We think insurance should be simple, easy, and convenient.
If your business handles credit card payments, personal identifiable information (PII), uses technology, or is one of the states that requires businesses to disclose when a breach occurs, you should consider Cyber Liability insurance.
You can get an instant quote that is ready to be purchased in just a few clicks.