Ransomware attacks have significant potential to disrupt business operations and cause huge financial damages. In the fourth quarter of 2022 alone, nearly 155 million Ransomware attacks were detected worldwide.

As cyber threats continue to become more frequent and sophisticated, businesses of all sizes are facing increasing challenges in safeguarding their assets, employees, and clients. We arm our clients with cyber insurance ahead of being forced to address the complexities that come with these crimes.

Even the most fervent business owners cannot safeguard their organizations and employees from every last threat — especially in today’s well-connected digital age. No matter the size or location, businesses of all kinds are vulnerable to different types of fraud.

During the week of ​November 14–20, we will join the global community in observing International Fraud Awareness Week. We can all do our part to invest in fraud enforcement and minimize the extensive impact this unlawful activity has on global communities around the world.

According to the National Cyber Security Alliance, an average of 28% of small businesses suffered data breaches in the first 6 months of 2019. Some of these companies even had to close their doors due to the weight of the financial losses incurred. Data breach costs can vary by geography, industry, and business size. And given that remote working trends may not go away anytime soon, it’s more important than ever to protect your business.

With increasing concerns around cyber attacks against businesses of all types, sizes, and in different locations world-wide, business owners must take important steps to protect your business from cyber crimes.

There are several inclusions in a cyber insurance policy. Any business that stores trade secrets and protected personal information of clients should consider a policy that includes the most important features.