In recent years, Cyber Monday has increased in popularity, as many Americans are finding the event as an alternative to fighting the Black Friday crowds. However, this increase in e-commerce also comes with extra risks, as cybercriminals target businesses and customers, stealing identities, generating scams, and taking advantage of vulnerability.
The Property Casualty Insurers Assn. of America urges customers to guard their identities and businesses to guard personal information, especially on Cyber Monday. With nearly one-third of cyber attacks aimed at businesses with 250 employees or smaller, and 50 percent aimed at businesses with fewer than 2,5000 employees, small businesses, in particular, are targets for cybercrime, warranting cybersecurity insurance.
"There is always a potential, when you purchase or sell something online, that you could be open to a cyber-attack without even knowing it," said David Golden, PCI's senior director, commercial lines policy.
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