30 Mar Cyberinsurance And MSPs For Small To Medium-Sized Businesses
This week in cybersecurity from the editors at Cybercrime Magazine
–Read the Full Story in Forbes
Sausalito, Calif. – Mar. 30, 2024
Forbes reports that small and medium-sized businesses (SMBs) often lack the resources to fully secure their day-to-day operations, making them a low-hanging fruit for hackers.
The potential financial impact of security breaches on SMBs is becoming increasingly dangerous as threats grow more sophisticated. Financial damage from cybercrime has grown yearly and is predicted to cost $10.5 trillion annually by 2025, according to Cybersecurity Ventures.
These significant costs have led to the rise of another protective layer — cyber insurance.
While it has been a challenge for SMBs to obtain cyber insurance, the rise of tailored policies and the guidance of managed service providers (MSPs) can finally give small businesses more peace of mind amid rising cyber threats.
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