Image Building Media Featured: Importance of Cyber Insurance for Businesses

Image Building Media was recently featured in an article by Insurance Providers, Importance of Cyber Insurance for Businesses. Cyberattacks are becoming more prevalent, so cybersecurity and cyber insurance shouldn’t be underestimated. Insurance Providers spoke with experts who offer various types of cyber insurance and cybersecurity to get their advice on this critical topic.

Allan McNabb contributed to the Cyber Insurance article by discussing the importance of cyber insurance, the benefits of cyber insurance, how to find the best cyber insurance for your business, and more. The article featured Allan McNabb with Image Building Media, stating:

To protect your business from the potential costs and headaches of a cyber attack, you must ensure that you have the right cyber insurance coverage. Here are four tips for finding the best cyber insurance for your business:

• Do your research – first, figure out what kind of coverage you need. Cyber insurance can cover a wide range of risks, including data breaches, unauthorized access to systems, and attacks on networks and servers. Make sure to ask your agent about specific coverage options that are relevant to your business.
• Consider the cost – not every policy will be affordable, so be sure to compare rates before choosing a policy. Also, remember that some policies may have higher premiums during periods of high-risk activity (for example, during major sporting events).
• Evaluate your risk – what kind of harm could occur as a result of a cyber attack? Is your company’s information particularly sensitive or vulnerable? This will help you determine whether an insurance policy is right for you.

Cyber security is a top priority for businesses of all sizes. The threat of cybercrime is real and escalating, with reported losses from cybercrime reaching $2 trillion in 2017.

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