Every organization, regardless of industry, is vulnerable to cyber exposures. This is an unfortunate reality many businesses must face: It’s no longer a matter of “if” your business may experience a cyber incident, it’s a matter of “when.” Are you prepared?
In today’s landscape, we’re seeing cybercriminals get more sophisticated, increasing risk for the companies they target. This can damage your reputation, put your customers, clients, and employees at risk, and devastate your balance sheet.
In fact, cyber incidents can be extremely costly: The Poneman Institute’s 2020 data breach report found the average total cost of a data breach in the U.S. is $8.64 million. If your budget does not have room for an unexpected expense of this magnitude, you should strongly consider obtaining a cyber insurance policy.
Our seasoned team of cyber professionals at Graham provide comprehensive insurance programs that protect your employees, clients and vendors, your reputation and your bottom line. This includes both first- and third-party expenses, such as investigation and forensics services to restore networks, legal representation to ensure compliance with notification laws, public relations services to preserve the company’s reputation, regulatory fines or penalties, defense expenses associated with a lawsuit and more.
Cyber policies also include business interruption insurance in case a cyber incident impacts the service of your network or a network you rely on to do business. We understand that every week, day, hour, minute and even second is valuable to your business and work diligently to ensure our clients are properly compensated when revenue is lost due to a cyber incident.
Simply put, any organization that connects to the internet or maintains personal information should have cyber insurance."
- Margaux Weinraub, Cyber Practice Leader, Graham Company
April 01, 2021
