Even with ever increasing stories of cyber attacks, many business owners still believe “it won’t happen to me – we’re only a small company”. However this is very definitely not the case – and SMEs are at risk, as this case study from CFC Underwriting shows.
When the client found that their cloud backup had been failing for a number of years the loss the cost of the claim increased from £15,000 to over £200,000.
This case study illustrates the importance of having both good systems and adequate insurance in place and that it is not just large organisations or companies that hold lots of client data or sensitive data that can be affected as malware and ransomware is indiscriminate on who it affects.
To find out how FOCUS can help protect your business and guide you through the world of cyber liability insurance, do not hesitate to get in touch.