What Does My New RiskWell® Cyber Insurance Cover?
These are just a few areas in which a cyber insurance policy will protect your business. Your RiskWell Advisor® will help you customize the coverage and details to match your preferences.
View Our Cyber Liability Playlist Below:
Select the Playlist button at the top right of the video below to browse through the 8 videos in the playlist.
Cyber Insurance Protects You From An Existential Threat
Unfortunately, data breaches and other cyber crimes are becoming far too common. In 2019, more than 85% of the victims of documented data breaches were small businesses. The average direct economic damage for a cyber event is ~$800,000. Worse, that number doesn't include indirect damages like opportunity costs or expenses incurred for reputation management or public relations.
Do you have an extra $800,000 available to recoup those losses? If not, then you came to the right partner to find the solution.
Working with RiskWell means gaining access to a seasoned expert insurance brokerage team as well as experienced risk managers who are ready to make business recommendations beyond just buying an insurance policy and calling it a day.
"My business partner and I didn't even know Cyber Insurance was a thing, but we're glad it was brought to our attention. RiskWell was able to get us covered quickly, and for much less than we anticipated."
"We never thought a cyber attack would happen to our business. Thankfully the team at RiskWell had us prepared. The process has been rather difficult, but without the insurance we had in place, it would be far worse."
Won't My Current Insurance Cover Cyber Damages?
Unfortunately, most business owners policies (BOP) either don't provide ANY coverage at all for Cyber Liability and/or Data Breach events. Most policies that provide coverage at all have so many limitations or exclusions that the coverage is almost worthless.
RiskWell strongly recommends that all clients who have customer/client data in your possession get appropriate Cyber Insurance coverage on a stand-alone policy that is designed for your business.
Annual cost for great coverage with our preferred companies begins at about $300 for most business classes.