In recent years, small and medium-sized businesses (SMBs) have increasingly become the target of cybercriminals, as they are perceived to be more vulnerable and less prepared to handle attacks. Accenture's Cost of Cybercrime Study reveals that 43% of all cyber-attacks are directed at SMBs, however, only 14% are adequately prepared to protect themselves against these attacks. Additionally, according to Ponemon Institute’s State of Cybersecurity Report, 2 in every 3 SMBs have experienced a cyber attack in the past 12 months and almost half admit that their processes are ineffective at mitigating attacks.

Insurance can be a fickle thing.  

If you’re unlucky enough to be in a car accident, it can be as much of a life-saver as your seatbelt and airbag systems. But often, policies can feel redundant or over the top, like when you got that volcano insurance.  

The reality is insurance is more than just coverage in the case of an accident or problem. And cyber insurance, in this volatile and uncertain internet age, is more of an answer to your concerns than you know. 

We hate click-bait titles so here’s the gist quickly. 

First, the FBI recently reported business email compromise attacks were up 65% from July 2019 through December 2021 and totaled $43 Billion dollars – that’s BILLION with a B – in reported losses from June 2016 through July 2019.  

Additionally, if you and your team do business on the internet, you are at risk. Okay, that sounds click-baity, too, but it’s absolutely true. We’ve said it over and over. There are plenty of proactive options to build a strong strategy. 

This is a true story of a small company that got ransomware. We'll tell you how it happened, and what choices the company ultimately made. Then, we'll explore the question, "was there a better way?" 

Did you know that 43% of all cyber crime is directed towards small businesses? This is due to a number of factors, but mainly because a majority of small businesses still refuse to take a proactive approach when it comes to cybersecurity. As long as SMBs are willing to sit back and allow hackers to target them, the number of attacks on small businesses are only going to continue to increase.