Get Insider's Cyber Insurance Quote Tailored For Accounting Payroll
Why Cyber Insurance is Essential for Your Business
Accounting payroll services are particularly vulnerable to cyber threats due to the sensitive nature of the data they handle. A breach can lead to significant financial losses, legal liabilities, and reputational damage. Cyber insurance helps mitigate these risks by covering costs associated with data recovery, legal fees, and client notification expenses. According to the 2023 Hiscox Cyber Readiness Report, the average cost of a cyber incident for a small business is approximately $200,0001. Without insurance, such an incident could be catastrophic.