Cut Costs with Cyber Liability Insurance Quote Today
The Financial Impact of Cyberattacks
The financial consequences of cyberattacks can be devastating. According to a report by IBM, the average cost of a data breach in 2023 was $4.45 million, marking a significant increase from previous years1. These costs encompass various factors, including lost business, reputational damage, and the expenses associated with rectifying the breach. By investing in cyber liability insurance, businesses can mitigate these financial risks and focus on recovery without bearing the full brunt of the costs.