Cyber Risk Continues To Be A Top Risk For Florida Business Owners

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Florida Cyber Liability

Hackers are trying very hard to breach your business computers.  While some cyber attacks originate within the United States, it is foreign hackers that lead the list of problems for most American companies. Over 50% of cyber losses come from third party hackers, 20% from human errors, and less than 19% from system errors.

Leading Causes of Florida Cyber Attacks

  1. Viruses loaded onto computers
  2. Third party attacks of financial records
  3. Third party access to computer systems
  4. Employees hacking or loading a virus
  5. Employees misuse of computers, or having laptops stolen

Claim Examples

A manufacturer received a call and an email, which they thought was from their bank, asking for a verification of funds request. The CFO provided the information, and $75,000 was removed from their account. The cyber thief was able to steal $75,000 from the manufacturer.

A restaurant had 200 credit card records stolen. The hacker was able to charge $120,000 on the credit cards. The restaurant incurred notification costs and direct damages of over $250,000.

Cyber Insurance

Most business insurance policies do not cover computer fraud by a third party or the liability arising out of a cyber-attack. The good news is solutions are available.  We can provide your firm with the right combination of pricing and coverage. Cyber Liability insurance is available at very reasonable premiums. Many of our companies offer coverage to help protect your business from loss.

Amberg Insurance Center, Inc. was established in 1974 to serve the growing insurance needs of the many businesses and individuals located in the Charlotte and surrounding counties. We take pride in the quality service provided to our customers, our community concern, and our commitment to the overall development of our employees.

 

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