Can Your Business afford NOT to have Cyber Cover?

In today’s digital world, cyber threats aren’t just an IT problem — they’re a business risk. Whether you’re transferring funds, storing client data, or operating remotely, your business could be vulnerable in more ways than you realize. The threat is real—take these steps to stay ahead.

Sending or Receiving Electronic Payments

Cybercriminals are increasingly targeting EFTs by hacking emails and impersonating trusted contacts. These scams are sophisticated — and once the funds are gone, recovery is rare. Protecting your payment systems and educating your team is critical to preventing fraud.

Our advice: The majority of the claims for lost funds stem from funds transfer fraud. There are fraud prevention tools that are available to mitigate these losses, as they are frequently caused by human error.

Collect or Store Personal or Confidential Data

A data breach involving sensitive information could lead to regulatory fines, legal action, and the need to notify affected individuals.

Our Advice: Effect Cyber coverage, as this can address both regulatory compliance and crisis management, providing support such as legal counsel, and coverage for fines and penalties.

Do You Have Access to a Cyber Incident Response Team?

When a cyber attack hits, fast action is crucial. Most businesses lack the in-house resources to respond effectively.

Our Advice: Having cyber insurance as a 24/7 emergency response solution, offering around-the-clock access to technical experts and comprehensive remediation support to quickly contain and recover from cyber incidents is vital.

Could You Survive Extended Downtime?

Ransomware can bring your business to a standstill —sometimes for weeks. The financial hit from lost revenue, data recovery, and reputational damage can be devastating. Having a plan in place to manage downtime is essential to long-term resilience.

Our Advice: Cyber insurance can cover a wide range of financial impacts, including lost income, data restoration expenses, and reputational damage—such as customer attrition and canceled contracts.

Understanding your cyber vulnerabilities is the first step in protecting your business. As your brokers, we're here to help you assess those risks and explore insurance solutions that can safeguard your operations, your customers, and your reputation.

Let us know if you would like to look at coverage options that can keep your business protected.