Guide to keeping cyber insurance premiums low amidst rising threats
Cyberattacks have become an unavoidable part of the technology landscape in recent years with attacks like ransomware, phishing, and whaling reaching an all-time high. According to IBM’s Cost of Data Breach Report 2022, the average cost of a ransomware attack is $4.54 million and the average cost of a breach in the US alone is $9.44 million. Cyber insurance is important in these instances, because it helps cover the financial losses incurred.