The Urgency of Cybersecurity and Cyber Insurance for SMBs
Part 2 of 5:
Small and medium-sized businesses (SMBs) face a growing threat from cybercriminals who see them as easy targets due to perceived weaker security measures and the valuable data they possess. Contrary to the misconception that SMBs are too small to be targeted, statistics show that they are increasingly victims of attacks, with ransomware being a particularly prevalent threat. Cyberattacks can cripple SMBs, leading to substantial financial losses from system repairs, data recovery, business interruption, and potential lawsuits.