Cyber Attacks & Ransomware: Rising Costs You Need to Know

The cost of cyber attacks is skyrocketing. According to a recent cybersecurity report, ransomware payments have surged 500%—with the average payment now at $2 million, up from $400,000 just a year ago. In fact, CDK Automotive reportedly paid a staggering $25 million to resolve a cyber lockup.

If your business hasn’t been hit yet, it’s important to prepare. Cyber insurance may seem like a safety net, but you need to ensure you have the right coverage. A standalone cyber liability policy is crucial, covering not just basic incidents but third-party risks, active monitoring, and a response team that can help you handle an attack quickly.

As these attacks increase, the stakes are higher than ever. Ensure your policy covers the full range of risks to protect your business from these escalating threats.

For personalized advice, schedule a live consultation with an expert at ActualHuman.com.