Cyber Policies, Not Just For Large Companies.
A small law firm that recently digitized their case management system fell victim to a cyber-attack, resulting in an $80,000 ransom payment to regain access to confidential client data. With the help of their cyber insurance policy, the insurance company covered the ransom payment and negotiation costs, enabling the firm to recover financially and implement better security measures.
This experience emphasizes the crucial role of cyber insurance in safeguarding businesses against cyber-attacks.