Data breaches and cyber attacks aren’t just a problem for international corporations, as small businesses find themselves falling victim to such incidents every day. In fact, 75% of SMEs have experienced some kind of cyber attack in the past 12 months.
Cyber Crime & Data Breaches – What You Need To Know
Cyber attacks come in many shapes and sizes but if a data breach occurs, the effects upon your business can be devastating. When you consider the potential costs associated with losing valuable data, repairing or replacing corrupted equipment, loss of business, compensation payouts and fines, it’s easy to see why data security breaches cost SMEs on average £75K.
These costs mean that as many as 25% of SMEs won’t survive a data security breach. This is a particularly worrying statistic when you consider that 50% of all data breaches are caused by simple human error.
You Don’t Have To Face This Threat Alone
At Hine Chartered Insurance Brokers, we’re determined to help businesses protect themselves from the growing threat posed by data breaches and cyber attack, which is why we’re pleased to let you know about the new Cyber Recovery Insurance we can provide, courtesy of Lorega.
Cyber Recovery is an insurance policy which provides SMEs with a Cyber Expert to help them survive a cyber attack and the loss of personal information. The team at Lorega will investigate and restore your systems and help you communicate with your customers to limit the damage to your reputation and restore confidence.
Additionally, this cover will provide forensic and technical services to assist with any regulatory investigation and incident management, covering the cost of certain financial damages, penalties and fines, arising from a regulatory investigation, helping you to get back on your feet with minimal damage to your business.
Plus, you will have access to a Cyber Expert 24/7, 365 days a year via Lorega’s Cyber Helpline.
To find out more about how Cyber Recovery Insurance from Lorega could help your business during its time of need, talk to the experienced professionals at Hine on 0161 438 0000 or visit our website at www.hine.uk