Modern companies face cyber threats every day in the course of their normal operations. It’s important to clearly define the specific risks posed by this type of attack. A big data insurance policy can be taken out in order to safeguard against the risks posed by cyber attacks.
Hacking Small Businesses
Hackers often target small businesses because unlike large corporations, small companies often don’t take the precautions needed to protect their company’s data. Hackers can profit with that data by selling it on the black market. Small businesses aren’t exempt from the risks of cyber threats and as such should take steps to insure themselves.
The New Frontier of Ransomware
In a ransomware attack, a hacker gains control of access to data and then demands a ransom before giving access back. Depending on the specific coverage, big data insurance may protect your company from the risks inherent in this type of attack, which is becoming increasingly prevalent.
A Multitude of Vulnerable Devices
When a range of devices are being used at your company to do business, from laptops to desktop computers to mobile phones to tablets, the information vulnerability increases. That means the risk of a breach proportionally increases as well.
Big data insurance helps companies cover expenses in the event that a cyber attack causes them to be the target of malicious data breaches and subsequent lawsuits. It’s a smart investment for all businesses, small and large.