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Cyber Risk Continues To Be A Top Risk For Georgia Business Owners
Posted by Allen & Furr Insurance on
Georgia Cyber Liability
Hackers are trying very hard to breach your Georgia 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 Cyber Attacks
Viruses loaded onto computers
Third-party attacks on financial records
Third-party access to computer systems
Employees hacking or loading a virus
Employees misuse of computers or having laptops stolen
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.
Most Georgia 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.
Established in 1981, we are dedicated to providing excellent service and competitive pricing but most importantly, professional analysis of the insurance needs of our clients. Our state of the art computer network allows us to make rate comparisons with several insurance companies to ensure that our clients receive the best we have to offer. We can help you with all your insurance needs.