More than 800 risk experts from around the world see cyber incidents as one of the top three business risks this year! This is the first time cyber incidents – cybercrime, data breaches and IT failures – have made the top three list on experts’ radar, following a gain of 11 percent points according to the fifth annual Allianz Risk Barometer.
Loss of reputation is the main cause for economic loss after a cyber incident. Remaining causes include business interruption and liability claims at 60% and 52% respectively.
Why aren’t more business prepared? Many business owners don’t understand the exposures they face and that there is now insurance coverage available. Ask us today now to protect your business!