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Louisiana Insurance Report

Why Should I Buy Cyber Insurance?

Posted by Levi Kastner on Aug 27, 2019 8:28:08 AM

Cyber Insurance Levi Louisiana

If you have a business, and don't have cyber insurance yet, read on. We highly recommend cyber and social engineering coverage. I think it's almost time for even individual families to start buying cyber coverage. If you have questions, concerns don't hesitate to contact us. 

Why Buy Cyber? Well because!  

No. 1 There will be an estimated 50 billion devices and processes connected to the internet by 2020. 

No. 2. Virtually all aspects of our professional and personal lives are vulnerable to cybercrime

No. 3. The cost of global cyber crime is estimated to be $400 billion annually, which makes this risk "C-suite" and boardroom concern. 

No. 4 Hacking is causing business interruption, bringing companies, operations and processes to a grinding halt. 

No. 5. WannaCry malware infected roughly 200,000 computer systems worldwide.

No. 6. Public companies paid $2.4 billion for SEC enforcement actions in 2015. 

No. 7 Cyber and executive risks are getting harder for companies to manage.

No.8 In this digital landscape, business reputational crises can "go viral" in a matter of seconds. Consider that.....

No.9 The #MeToo hashtag appeared on Twitter 19 millions times in its first year of use-to say nothing of it use on other social media platforms such as Facebook, Instagram or Reddit. 

No. 10 The growth of insurance for transactions suggest cyber crime has penetrated the mergers & acquisition or (M&A) market. Consider that the number of mid-market M&A deals utilizing reps & warranties insurance has grown 225% since 2015.

Want to discuss your personal or business risk?

 

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