Survey: Small Businesses Lax on Computer Security, Need Cyber Liability Insurance

According to a survey taken by TrendMicro and Ponemon Institute in 2012:

62% don’t routinely backup data

65% don’t use encryption for sensitive data

52% store sensitive data on laptop or mobile device

72% leave their computers unattended

This survey indicates that small businesses are in serious need of Cyber Liability insurance. Stand alone Cyber Liability policies often have minimum premiums in the $2500 range and have a host of risk management requirements to protect the confidentiality of information. However, more recently, carriers have begun to add Cyber Liability endorsements to General Liability policies with premiums starting in the $350 range and with very few risk management requirements.

Source: Travelers Select Accounts, marketing emails, October, 2012

Print Friendly
Survey: Small Businesses Lax on Computer Security, Need Cyber Liability Insurance
1 vote, 3.00 avg. rating (68% score)
Categories: In The News

Ready to get your free personalized technology insurance quote?

Help protect yourself and your IT business by getting your fast and easy no-obligation insurance quote. To get started, simply fill out our convenient 4 minute online quote request form and it only takes 2 more minutes to purchase coverage or call us toll free at 1-800-622-7370 to speak to an expert licensed insurance specialist today.