Small businesses thrive with cyber insurance questionnaire secrets
Financial Considerations and Real-World Examples
The cost of cyber insurance varies widely depending on the size of your business, the industry, and your current cybersecurity posture. On average, small businesses can expect to pay between $1,000 and $7,500 annually for a comprehensive cyber insurance policy2.
Consider the case of a small retail business that suffered a data breach. The company faced significant legal fees and customer notification costs. However, because they had invested in a comprehensive cyber insurance policy, they were able to recover financially and maintain their reputation3.