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ThrottleNet Reveals The Importance of Cyber Liability Insurance
"Since 2019 ransomware attacks have risen about 232 percent and cases of ransomware increased 13 percent in 2022 alone," said George Rosenthal, ThrottleNet President. "Those small and medium-sized businesses with limited security measures can be easily wiped out and the need for cyber liability insurance has never been greater."
Rosenthal said cyber liability insurance has many benefits for business owners. These include protection from fines, legal fees, and settlements, and avoiding costs of repairing the damage caused by a cyber attack. It can also prevent lost income due to downtime or a loss in reputation.
"Cyber liability protection is a must but insurance companies are well aware of the rise of cyber-attacks and as a result, many now require detailed risk assessments, security measures, and compliance certifications before they will offer coverage," added Rosenthal.
"Unfortunately, many small companies fail to qualify due to a lack of resources and are unable to meet the necessary benchmarks,"
Rosenthal emphasized that a knowledgeable IT partner can help a business check all the boxes and complete the extensive application process required. "A business owner needs to focus on running their company, managing their employees, and taking care of customers. Dealing with this type of paperwork can be time-consuming, confusing, and difficult for those unfamiliar with cybersecurity and its terminology. Cyber security firms like ThrottleNet can help a business meet the required standards, complete the process, and ensure they receive the lowest possible premiums and, most importantly, get paid in the event of an attack."
ABOUT THROTTLENET INC
Ranked as the #1 IT Firm for seven years in a row, and #1 Cybersecurity Firm in St. Louis by Small Business Monthly, ThrottleNet, Inc. understands the importance of cyber due diligence for local governments and business owners and offers comprehensive services to help protect your organization from potential cyber threats. ThrottleNet pays special attention to ensure all client cybersecurity and IT service needs are a top company priority. The firm constantly tracks its performance to verify they are meeting the highest levels of customer satisfaction. ThrottleNet has received over 420 Google reviews from happy clients with an average score of 4.9 out of 5. Partnering with ThrottleNet will provide the highest protection for your assets and help you achieve your business goals. https://throttlenet.com.