Safeguard Profits with Nationwide IT Liability Insights
Real-World Examples and Statistics
Consider the case of Equifax, which suffered a massive data breach in 2017, affecting over 147 million consumers. The breach resulted in a settlement of up to $700 million2. This example highlights the potential financial impact of IT failures and underscores the importance of having adequate liability coverage. Moreover, a study by the Ponemon Institute found that companies with an incident response team and comprehensive IT liability insurance save an average of $1.23 million per breach1.