Staffing firms tap exclusive cyber insurance secrets today
Financial Implications and Cost Considerations
The cost of cyber insurance for staffing firms can vary significantly based on several factors, including the size of the firm, the volume of data handled, and the level of coverage required. On average, small to medium-sized enterprises might pay between $1,000 to $7,500 annually for a policy with a $1 million coverage limit1. It's crucial for staffing firms to weigh these costs against the potential financial impact of a cyberattack, which can be devastating without adequate insurance. Many insurers offer flexible payment plans and discounts for firms that implement strong cybersecurity measures, making it easier for businesses to afford comprehensive coverage.