Cyberinsurance and MSP for Small and Medium Businesses

March 30 Cyberinsurance and MSP for Small and Medium Businesses

This week on cybersecurity from the editors of Cybercrime Magazine

–Read the full story in Forbes

Sausalito, California – March 30, 2024

Forbes Reports that small and medium-sized businesses (SMEs) often lack the resources to fully secure their daily operations, making them an easy target for hackers.

The potential financial impact of security breaches on SMBs is becoming increasingly dangerous as threats become more sophisticated. Financial damage caused by cybercrime increases every year and is expected to be costly 10.5 trillion dollars per year by 2025according to Cybersecurity Ventures.

These significant costs led to the creation of another layer of protection: cyber insurance.

While it has been difficult for SMEs to obtain cyber insurance, the rise of bespoke policies and advice from managed service providers (MSPs) can finally give small businesses more peace of mind in the face of the increase in cyber threats.

Read the full story

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