Small and mid-sized businesses are increasingly bearing the burden of cyber threats, as criminals consider them low-hanging fruits that often do not have the resources in place to mount a strong defense.

A severe attack on a small company can incapacitate its ability to do business, and the expenses of getting operations back on track ― coupled with loss of goodwill ― can easily force many firms into bankruptcy. That’s why it’s important to not only have safeguards in place to avoid being compromised in the first place, but to also take out the proper insurance.

Unfortunately, with more data breaches hitting the news, one of the main concerns that executives have is if their insurance will cover the costs associated with recovering from an attack. Many business owners and executives worry whether the policies they have in place will be adequate in case they are hit by a breach.

If you are running a small or mid-sized company, do not underestimate the growing threat to your business.

According to a survey by online insurance news service Advisen and Nationwide Insurance Co., the types of cyber losses mid-sized business incur are:

  • Malicious breaches resulting in data losses, 52%
  • Unintentional data disclosure by staff: 16%
  • Physical loss or theft of data: 13%
  • Network or website disruptions: 5%
  • Phishing, spoofing and social engineering: 5%
  • Other: 9%

Insurance concerns

One of the chief concerns for executives is any overlap or gaps between their property, liability, crime and cyber policies when it comes to covering the costs of recovering from an attack, according to the report by Advisen and Nationwide.

Some companies feel they don’t need cyber coverage because they believe their property and liability policies will cover any related losses.

Here are some of the main findings:

  • 95% of respondents named data breach as the number-one risk they expect to be covered by a cyber insurance policy.
  • 94.5% said they expected cyber-related business interruption to be covered by a cyber policy.
  • 89% said they expect their cyber policy to cover cyber extortion or ransom demands.
  • 36% said they have cyber-related property damage/bodily injury coverage under another policy, reflecting the belief that some coverage for cyber-related losses can be found under traditional policies.
  • 60% of respondents said they are concerned about perceived gaps and overlaps in their insurance coverage.

For funds-transfer fraud losses, the majority of respondents believed coverage should be found under the crime policy, but also stated they would like to be able to recover under both crime and cyber policies ― or have separate policies with higher limits.

These findings show that businesses are seeking clearer differentiation between cyber and traditional policies, and an understanding of which events are insured and which are not.

The takeaway

One thing to be aware of is that since cyber insurance is a new and still evolving product, all policies do not cover the same thing. That’s why it’s important for businesses to weigh their choices carefully with our guidance.

While the cyber threat has grown, more insurers have also changed language in their property and liability policies to limit coverage of cyber events.

Typical property insurance policies offered higher limits for business interruption for covered property damage. And because of the high costs associated with a data loss, more executives want to see similar limits for business interruption coverage on their cyber stand-alone policies.

This market demand may drive insurers to refine their cyber insurance policies, including increasing cyber-related business interruption limits up to the level of standard property forms, according to the report.

It’s important that when shopping for a cyber policy, you work closely with us to find the one that best fits your needs. We can help you evaluate your risks and coverages and identify any gaps by looking at your existing policies.


  1. If some one desires expert view on the topic of blogging after that i recommend him/her to pay a quick visit this webpage, Keep up
    the nice work.

  2. Good day! I could have sworn I’ve been to this site before but after
    reading through some of the post I realized it’s new
    to me. Anyways, I’m definitely glad I found it and I’ll be bookmarking and checking
    back often!

  3. Hmm is anyone else experiencing problems with the pictures on this blog loading?

    I’m trying to find out if its a problem on my end or if
    it’s the blog. Any suggestions would be greatly appreciated.

  4. cialis in dubai [url=]buying generic cialis online safe[/url] Getting Viagra Over The Counter Cialis Finasteride 10mg Mail Order On Line

  5. Kamagra Time To Work Enultnap [url=]Cialis[/url] RicInhinee Orlistat Xenical piorgipror Cialis oxique Acheter Cialis Tadalafil 20mg

  6. Hey do you mind sharing which blog platform you’re using?
    I’m planning to begin my very own blog in the future
    but I’m having a hard time making a choice
    between BlogEngine/Wordpress/B2evolution and Drupal. The
    main reason I ask is because your design and elegance
    seems different then most blogs and I’m seeking something unique.
    P.S My apologies for getting off-topic having said that i had to ask!

    Also visit my homepage :: HeathUSubich

  7. Terrific work! This is certainly the particular info that are made to be shared throughout the
    internet. Disgrace on Google for not positioning this create upper!
    Occur over and check with my site . Thanks =)

    my blog post :: JarvisDJoyce

  8. I’m more than happy to find this great site. I wanted to thank you for
    your time for this wonderful read!! I definitely savored every little bit of
    it and I have you book marked to see new things in your web site.

  9. Hey there! I just wanted to ask if you ever have any issues with
    hackers? My last blog (wordpress) was hacked and I ended up losing a few
    months of hard work due to no backup. Do you have any methods
    to stop hackers?

  10. I don’t even know how I ended up right here, however I
    thought this put up was once good. I don’t recognise who you’re but certainly you are
    going to a well-known blogger in the event you are not already.

  11. I’m now not certain where you are getting your info, but great
    topic. I must spend a while studying more or understanding more.
    Thanks for fantastic information I used to be searching for this info for my mission.

  12. Hi, I do believe this is an excellent website. I stumbledupon it 😉 I’m going to revisit yet again since i have book marked
    it. Money and freedom is the greatest way to change, may you be rich and continue to guide other people.

  13. I’m more than happy to uncover this website. I need to to thank you for ones time for this fantastic read!!
    I definitely enjoyed every part of it and i also have you saved as a
    favorite to check out new information in your site.

  14. Hey do you mind letting me know which hosting company you’re
    using? I’ve loaded your site in 3 different internet browsers and I have to admit this web site loads a
    whole lot faster then most. Is it possible to
    recommend a great hosting provider with a fair price?

    Thank you, I appreciate it!

    my webpage :: IvetteIFavre

  15. It is perfect time to make some plans for the future and it’s time
    to be happy. I’ve read this post and if I could I want to suggest you few interesting things or advice.

    Maybe you can write next articles referring to this article.
    I wish to read more things about it!

  16. This is really interesting, You’re an excessively professional blogger.
    I have joined your feed and look ahead to seeking extra of your wonderful
    post. Also, I’ve shared your website in my social networks

  17. Interesting blog! Is your theme custom made or did you download it from somewhere?

    A design like yours with a few simple tweeks would really make my blog
    stand out. Please let me know where you got your design. Thanks a

  18. I’m not sure exactly why but this blog is loading incredibly slow for
    me. Is anyone else having this problem or is it a problem
    on my end? I’ll check back later and see if the problem still

    My page … SeanCMacadam

  19. I am really inspired together with your writing skills and also with
    the structure to your blog. Is this a paid topic or did you customize it your
    self? Either way stay up the nice high quality writing, it’s uncommon to see a great weblog
    like this one today..

  20. We absolutely love your blog and find a lot of your post’s
    to be precisely what I’m looking for. Does one offer guest writers to write content to suit your
    needs? I wouldn’t mind creating a post or elaborating on a few of the subjects you write related to here.
    Again, awesome web site! cheap flights 3aN8IMa

  21. Great blog you’ve got here.. It’s difficult to find excellent writing
    like yours these days. I honestly appreciate individuals like you!
    Take care!! y2yxvvfw cheap flights

  22. I’m really enjoying the design and layout of your site.
    It’s a very easy on the eyes which makes it much more pleasant for me to come here and visit
    more often. Did you hire out a developer to create your theme?

    Exceptional work!

  23. Greate pieces. Keep writing such kind of info on your page.
    Im really impressed by your site.
    Hello there, You’ve performed a fantastic job. I’ll definitely digg it and individually suggest
    to my friends. I am sure they will be benefited from this website.
    cheap flights yynxznuh

  24. You’re so awesome! I do not think I’ve read through anything like this before.
    So great to find someone with some original thoughts
    on this subject matter. Seriously.. many thanks for starting this up.
    This site is one thing that is required on the web, someone with
    a little originality!

  25. My brother suggested I might like this web site. He was once totally
    right. This publish actually made my day. You can not imagine just
    how much time I had spent for this info! Thank you!

  26. I am really impressed with your writing talents and also with the format on your blog.

    Is this a paid topic or did you modify it your self?
    Either way stay up the excellent quality writing, it’s uncommon to peer a nice weblog like this
    one these days..

  27. My spouse and I stumbled over here from a different web page and
    thought I might as well check things out. I like what I see so now i’m following
    you. Look forward to looking over your web page for a second time.

  28. Greate pieces. Keep writing such kind of information on your blog.
    Im really impressed by it.
    Hi there, You’ve performed an incredible job. I will definitely digg it and in my opinion recommend
    to my friends. I’m confident they’ll be benefited from this web site.

  29. My partner and I stumbled over here different web page and thought I should check things out.
    I like what I see so i am just following you. Look forward to going over your web page yet

  30. median groin or evident in the generic viagra online druggist’s [url=]generic cialis for sale[/url] simple problematical РІ you canРІt manual that over with the.

  31. Yvqsom kgfrnu cialis drug tadalafil cialis [url=]cialis generic cialis[/url] You intention supersede the u of leicester your youngs

  32. Thank you for any other informative site. Where else may I get that kind of
    information written in such a perfect method? I have a venture that I’m
    just now running on, and I have been on the look out for such info.

    my webpage: ArielNSeufer

  33. I simply want to say I’m all new to blogs and definitely liked you’re web-site. Most likely I’m going to bookmark your website . You amazingly have fabulous posts. With thanks for sharing with us your website.

  34. Sweet blog! I discovered it while browsing on Yahoo News.
    Are you experiencing any suggestions concerning how to get indexed in Yahoo News?

    I’ve been trying for some time nevertheless i never seem to arrive there!

    Also visit my web blog – ArdellaGKuns

  35. When I initially commented I clicked the “Notify me when new comments are added”
    checkbox and now each time a comment is added I get several e-mails with the same
    comment. Is there any way you can remove people from that service?
    Thanks a lot!

    Here is my site – biden 46 hat

  36. [url=]the best ed drug[/url] – erectile dysfunction medication
    [url=]order amoxicillin online no prescription[/url] – can i purchase amoxicillin online
    [url=]lasix furosemide 40 mg[/url] – furosemide 40mg

  37. [url=]drug cost metformin[/url] – metformin 1000 tab
    [url=]amoxicillin cost australia[/url] – buy amoxicillin canada
    [url=]furosemide 100mg[/url] – furosemide

  38. What i don’t understood is in reality how you are not actually a lot more
    neatly-appreciated than you might be right now. You are so intelligent.
    You recognize thus significantly in relation to this matter, produced me
    in my opinion believe it from a lot of numerous angles.
    Its like men and women aren’t fascinated except it’s something to accomplish
    with Lady gaga! Your personal stuffs outstanding. All the time
    maintain it up!

  39. We’re a group of volunteers and opening a new scheme in our community.
    Your web site provided us with valuable info to work on. You have done a formidable job and our whole community will be grateful to you.

  40. Taxi moto line
    128 Rue la Boétie
    75008 Paris
    +33 6 51 612 712  

    Taxi moto paris

    Every weekend i used to pay a visit this site, because i want
    enjoyment, as this this web page conations genuinely good funny stuff

  41. Hello to every one, for the reason that I am genuinely
    eager of reading this webpage’s post to be updated regularly.
    It consists of nice stuff.

  42. Hi, I do believe this is a great site. I stumbledupon it
    😉 I’m going to return yet again since I bookmarked it.
    Money and freedom is the greatest way to change, may you be rich and continue to help others.

  43. wonderful put up, very informative. I’m wondering why the opposite specialists of
    this sector don’t notice this. You must continue your writing.
    I am confident, you have a huge readers’ base already!

  44. You actually make it seem so easy with your presentation but I find this topic to be really something
    that I think I would never understand. It seems too complicated and very broad for
    me. I am looking forward for your next post, I will try to get the hang of

  45. It is in point of fact a nice and helpful piece of information. I am glad
    that you simply shared this useful info with us.
    Please stay us up to date like this. Thanks for sharing.

  46. you are truly a excellent webmaster. The website loading pace is incredible.
    It seems that you’re doing any unique trick. In addition, The contents
    are masterpiece. you have performed a magnificent activity in this matter!

  47. Hi! Someone in my Facebook group shared this website
    with us so I came to check it out. I’m definitely enjoying the information. I’m bookmarking
    and will be tweeting this to my followers!
    Outstanding blog and brilliant style and design.

  48. Thank you for the good writeup. It in fact was a amusement account it.
    Look advanced to far added agreeable from you! However, how could
    we communicate?

  49. Hi, I do think this is an excellent web site.
    I stumbledupon it 😉 I am going to come back yet again since I bookmarked it.
    Money and freedom is the greatest way to change, may you
    be rich and continue to guide others.

  50. Do you mind if I quote a couple of your posts as long as I provide credit and sources back
    to your website? My blog site is in the very same niche as yours and my users would certainly benefit from a lot of
    the information you provide here. Please let me know if
    this okay with you. Thanks!

  51. cialis without prescription Viagra cialis 5mg no perscription [url=]best erectile dysfunction pills[/url] ’

  52. But a smiling visitant here to share the love (:, btw outstanding pattern. “Reading well is one of the great pleasures that solitude can afford you.” by Harold Bloom.

  53. Hmm it appears much like your blog ate my first comment (it was extremely long) thus
    i guess I’ll just sum it things i had written and say, I’m thoroughly enjoying
    your website. I too am an aspiring blog writer but I’m
    still unfamiliar with everything. Are you experiencing any tips for
    rookie blog writers? I’d genuinely appreciate it.

    my homepage … JanaYVarquez

  54. I blog often and I truly thank you for your content.
    This article has truly peaked my interest.
    I am going to book mark your site and keep checking for new
    details about once per week. I subscribed to your
    RSS feed as well.

  55. Its like you learn my mind! You appear to grasp so much
    approximately this, such as you wrote the guide
    in it or something. I believe that you can do with some % to power the message house a
    bit, but other than that, that is great blog. A fantastic read.
    I will certainly be back.

  56. Hey There. I found your blog the use of msn. That is a really smartly written article.
    I’ll make sure to bookmark it and return to learn extra of your
    useful info. Thanks for the post. I’ll certainly comeback.

  57. Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point.

    You clearly know what youre talking about, why throw away your intelligence on just posting videos
    to your site when you could be giving us something informative
    to read?

  58. Hello there! Do you know if they make any plugins to assist with Search Engine Optimization? I’m trying
    to get my blog to rank for some targeted keywords but I’m not seeing very good gains.
    If you know of any please share. Thank you!

Leave a Reply

Your email address will not be published.

Post comment