A Few Security Technologies, a Big Difference in Premiums

Ransomware attacks on businesses are increasing, with 1,248 victims in Q2 2024, according to Corvus Insurance. However, cyber insurance can help businesses to reduce costs by avoiding these incidents or recovering from them. While 84% of businesses retain cyber insurance, 72% consider it critical. By improving VPN and email security, businesses can reduce policy costs and ensure robust data protection. Corvus also advised businesses to execute a “3-2-1 policy” for backups, which has been shown to decrease damage claims by 72%.