Cyber attacks are costing companies billions of dollars. Small and medium-sized businesses are increasingly at risk. Is your company prepared for the costs related to a cyber attack?

Here are some examples of costs related to cyber attacks:

• The cost of remediation against attacks - such as notifying your customers
• Lost revenue due to a cyber attack
• Ransomware
• Legal costs related to cyber attacks
• Costs related third-party data storage

To understand the scope of the ever-growing concern, did you realize that 600,000 Facebook accounts are comprised daily? Using Facebook as a proxy for cyber attacks, generally, and considering that less than 3% of medium-to-small businesses have cyber coverage and that 65% of businesses are not even aware of what cyber liability is, it is clear that there is tremendous risk.

As a trusted partner to responsible entrepreneurs and business owners, Townsend Insurance Group customizes cyber-policies to address specific needs and budgets.