Cybersecurity is a real and growing concern for companies of all sizes, but it can be difficult to accurately assess the risk of exposure and likelihood of a successful cyberattack. With the average cost of a data breach currently sitting at $3.62 million, according to the Ponemon Institute, it's not something you can afford to ignore.
For most businesses, the cost of reducing the risk to zero is simply too high. The threat of ransomware, employee error, software vulnerabilities and other risks is growing. It requires expertise that is in short supply and the right tools to safeguard your business, but cyber insurance could cover the gap. No wonder then that the market is forecast to grow to almost $17 billion by 2023, according to P&S Market Research.
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