Report: Most SMBs Don't Know What Cyber Insurance Is
Social media and other online tools for their business, but they're not always sure what their liability is in the event of a breech, and don't know there are ways to protect themselves.
Small businesses rank social media use near the top of tools used for business, but these businesses are not always as security savvy as they should be. According to a report from market research firm Software Advice, decision makers at SMBs are unsure about cyber insurance. In fact, most don’t even know cyber insurance exists.
John Wheeler, research director for Gartner defined cyber insurance as:
protection against losses related to cyber-risks, such as data theft/loss, business interruption caused by a computer malfunction or virus, and fines or lost income because of system downtime, network intrusion and/or information security breaches.
According
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