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Of the 2,081 claims in the dataset, 787 were for events that constituted some form of a data privacy breach, and thus exposed records. (Credit: Billion Photos/Shutterstock) Of the 2,081 claims in the dataset, 787 were for events that constituted some form of a data privacy breach, and thus, exposed records. (Credit: Billion Photos/Shutterstock)

Businesses have to contend with a number of risk factors, but few are more concerning than cyber risks. No matter the size of the business or the industry they operate in, cybercriminals have shown they will target whoever they think is most susceptible. It is no longer a question of if, but when.

Cyberattacks threaten a business’s financial standing, reputation and much more. But while cyber insurance is readily available and a much-needed form of coverage in today’s digital landscape, many companies still lack coverage — despite the studies that show the cost of a cyberattack and the countless headlines that have detailed how attacks at companies like Equifax took place.

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected]

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