{"id":8423,"date":"2021-10-22T12:04:00","date_gmt":"2021-10-22T12:04:00","guid":{"rendered":"https:\/\/301webdemo.com\/oegema\/?p=8423"},"modified":"2026-02-19T10:40:52","modified_gmt":"2026-02-19T10:40:52","slug":"why-your-small-business-needs-cyber-security-insurance","status":"publish","type":"post","link":"https:\/\/www.ona.ca\/blog\/why-your-small-business-needs-cyber-security-insurance\/","title":{"rendered":"Why Your Small Business Needs Cyber Security Insurance"},"content":{"rendered":"\t\t
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Many small businesses are unaware just how vulnerable they are to cyber-attacks. Companies that accept digital payments, store information on computers, or have personal information about their customers are all easy targets for cybercrimes. Even if you use services you think are protecting your information, cyber criminals are experts at getting through what might seem to be the hardiest security. If you think you aren\u2019t a target for cybercrimes because of your size, think again. Any information these criminals can access is considered fair game. Here, we explain why your small business needs\u00a0cyber security insurance<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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An Affordable Alternative to Expensive Protection<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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According to the National Cyber Security Alliance, 70% of all cyber-attacks target small businesses. Cyber criminals know that smaller companies often don\u2019t have the budgets to prevent cyber-attacks. Strong infrastructures are costly, averaging just over $21,000 to install. However, if you can\u2019t afford this, you need to protect yourself, which is where cyber security insurance comes in.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Funding Following a Cyber Breach<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Cyber security insurance provides the money you need to recover from a cyber breach. All the information you store, whether it is personal, financial, or otherwise, can be of value to cyber thieves. Small businesses often store data on less secure systems including personal laptops. This makes your information more vulnerable. Once that information is accessed, you are responsible for the infringement on your customers\u2019 privacy. Such data breaches and the invasion of privacy lead to costly processes where you have to inform customers of the issue. You will also face the cost of credit monitoring, and even potential lawsuits filed by angry customers. Lost money from phishing attacks or ransomware demands can lead to bankruptcy, not to mention irreparable damage to your reputation. Insurance may help cover:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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