Remove Cyber Remove Financial Loss Remove Theft
article thumbnail

The latest reports from FBI and ITRC reveal that cyber incidents in 2023 broke records for financial loss and frequency.

Triple-I: Business Insurance

Cyber incidents reported to the FBI’s Internet Crime Complaint Center (IC3) in 2023 totaled 880,418. billion in losses, with investment scams making up $4.57 Meanwhile, supply-chain attacks increased, and weak notification frameworks further increased cyber risk for all stakeholders. billion in 2022 to $3.94

article thumbnail

Common Myths About Commercial Insurance Debunked

Protect Commercial Insurance

Myth 3: You Don’t Need Cyber Insurance Unless You’re A Tech Company It might seem logical to assume that if you’re not operating within the tech industry, cyber threats are not a significant concern. Understanding these specific terms and conditions is critical for effectively leveraging this insurance.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Is Your Website Safe? How To Stay Secure Amid Increasing Cyber Threats

Neilson Marketing Services

A single breach could lead to devastating consequences, including financial losses, legal liabilities, damage to your reputation, and the potential loss of client trust. Such breaches can lead to identity theft, legal ramifications, and irreparable damage to your reputation. Let’s make things happen, together!

Cyber 105
article thumbnail

Essential Business Insurance Guide: Safeguarding Your Property From Cyber Threats

Protect Commercial Insurance

In this article, we will explore different types of insurance coverage that can help safeguard your business from property damage, liability claims, cyber threats, and more. Cyber Insurance In today’s digital age, cyber threats pose a significant risk to businesses of all sizes.

Cyber 52
article thumbnail

Understanding Multi-Family Property Insurance in California.

Jackson & Jackson

It covers property damage, loss of income, liability claims, etc. With the right insurance coverage, investors can mitigate financial losses resulting from unforeseen events such as fires, storms, theft, or vandalism. Every property is unique, with different risks and potential exposures.

article thumbnail

How a “No-Harm” Data Breach Lawsuit Could Harm Your Clients

ProWriters

Per the nonprofit Identity Theft Resource Center (ITRC), 2,116 data breaches had been reported nationwide this year through September. More recently, courts have agreed the risk of future harm, such as identity theft or potential financial loss, constitutes standing to bring a lawsuit for a data breach.

Cyber 52
article thumbnail

Protect Your Business: 5 Essential Insurance Policies You Might Be Overlooking

Protect Commercial Insurance

Additionally, general liability insurance typically does not cover claims related to professional services or cyber incidents. Cyber Liability Insurance In today’s digital age, cyber threats are a significant concern for businesses of all sizes.