Did you know as a business owner that you are vulnerable to ransomware attacks?
Ransomware begins when you open a link in an email that unknowingly contains a virus. The virus immediately begins encrypting files, paralyzing your computer network. Files are not unencrypted until you pay a ransom, often demanded in cryptocurrency. This is a common loss and please see the statistics below.
- On average a ransomware attack can cost you/your business $2,500-$133,000 for each incident
- Last year it was noted that businesses lost 75 Billion do to these types of attacks
- Ransomware attacks have increased by over 97% in the past two years
- 34% of businesses hit with a malware took a week or more to regain access to their data
- A new business will fall victim to ransomware every 14 seconds in 2019 and every 11 seconds in 2021 per Cybersecurity Ventures predictions.
Sounds terrifying doesn’t it? Well, of course but there is something you can do to combat that type of loss. You can purchase Cyber Liability Insurance. It will help you against these catastrophic ransomware events and can be quite affordable especially for small businesses.
Please let us know if you have any questions or concerns. We’ll happily help quote this type of coverage so you can work it into your budget sooner than later. Now there are helpful tips in the meantime that you can distribute to your employees to help lower your risk. One site we found useful was: https://us.norton.com/internetsecurity-malware-7-tips-to-prevent-ransomware.html