Authored by Sara Weathers

According to a recent article from Insurance Business Magazine, cyber threats were the top concern for businesses for the third time in four years. This information comes from The Travelers Companies Risk Index.

Travelers believe that there is a false sense of security when it comes to the safety of the cyber landscape. When taking the Risk Index survey, most business owners said that they were sure of the practices they have in place when it comes to cyber security, however many of them were unable to state special measures that had been taken and did not have a plan if they were to experience a cyber-attack.

Businesses have access to simple tools that they can use, such as multi-factor authentication. Microsoft recently stated that 99.9% of account compromises can be prevented by using it. Having a cyber insurance policy is also important for businesses, but only 59% of business owners that took this survey have one.

Have questions about how your business can acquire a cyber insurance policy or how to implement preventative measures? AdvoCap Insurance and our team are here to help.

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