Almost every business has a cyber liability exposure. Most businesses are securing some form of coverage to protect their companies from these types of threats. A recent report by a leading insurance firm said that purchases of cyber insurance grew over 30% in the last year. It has become clear that even a good IT department cannot solve all the cyber risks your business has.
Cyber liability coverage (for data breaches) has evolved from just insurance for information technology companies, to coverage that nearly every kind of business should have -- if they do not already. Businesses including retailers, banks, contractors, distributors, restaurants, medical offices and more are unaware of the severe data breach exposure they face.
Here are a few of the latest methods used by cyber criminals
Social Engineering. This email looks like it is coming from your boss or CFO to transfer funds into the company account.
Direct Force. This is software that attaches to your computer, usually through emails, and then goes through hundreds of thousands of different words, combinations of words, and numbers to try to crack your password.
Pushing. This is a common way to gain entry and pull information. Again, usually attached to an email, and once it is opened, the virus accesses your system.
We can provide your firm with the right combination of pricing and coverage. Cyber risk insurance is available at very reasonable premiums. Many of our companies offer coverage to help protect your business from loss.
Alternatives Insurance® Agency was established in St Louis County in the fall of 1992 . Throughout the remainder of 1990's and through the millennium, additional locations were opened in order to service North and West St Louis, Saint Charles and Jefferson Counties. The demand for our products continued to increase motivating the partners of the organization to develop a business model in an effort to continue the growth and success without losing our superior customer service values.