Februry 2015 Cyber News
Cyber events of every sort continue to dot the landscape of nightly news, now becoming so frequent that the inevitable reality that your customer will have an event is going to be realized- that is, if it already hasn’t.
US Pro receives alerts of all kinds, and often these alerts give us a statistic. Each event is a brush stroke to US Pro, and when many events are put together it paints a daunting picture of America’s businesses, nonprofits, and municipalities and the potential for catastrophic loss that exists.
We have said it before, but it bears repeating:
No entity is immune from this exposure and Cyber Liability is the most important insurance any entity can buy.
To prove this point, check out these recent statistical headlines and carrier alerts from just this month:
- 66% of all businesses who have a data breach go out of business within 6 months.
- The average Cyber claim is $188,242
- More than 1 bilion records breached in last 12 months (excluding Anthem).
- 1 of every 3 Missourian’s are impacted by Anthem breach.
- 1 billion dollars stolen in Cyber banking heist affecting over 100 banks worldwide.
- 32 records are lost or stolen every second.
- 4% of all 2014 breaches were secure breaches.
- 2014 saw a 46% rise in data breaches.
Simply put, the numbers are not in favor of America’s commercial insureds, and they are getting worse each month now instead of just each year.
One last statistic to consider:
88% of all events are caused by unintentional employee negligence
The odds are stacked against your client indeed.
We are America’s “Cyber Insurance Experts” and US Pro is where you need to go to find the right solution for your client today. Simply write us at ksneed@usproins.com today to request an application or send us a submission today.
Whether it is for Cyber, D&O, EPL, E&O or Professional Liability, US Pro is where you should go!
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