Survey: 70% of Small Business Owners Interested in Data Breach Insurance

A recent study commissioned by Hartford Steam Boiler, a division of Munich Re, shows that many small businesses have had a data breach, almost all involving electronic records. The study further shows that employee or contractor mistakes, lost or stolen laptops, smart phones and storage media, and procedural mistakes are the primary causes of small business data breaches, leading to the resulting 70% of small businesses now looking to Cyber Liability insurance to help cover these exposures. If PEOs or their client companies have any questions on Cyber Liability, or would like a quote, contact Risk Transfer today.

Survey: 70% of Small Business Owners Interested in Data Breach Insurance.

Join the Conversation on Linkedin | About PEO Compass

The PEO Compass is a friendly convergence of professionals and friends in the PEO industry sharing insights, ideas and intelligence to make us all better. All writers specialize in Professional Employer Organization (PEO) business services such as Workers Compensation, Mergers & Acquisitions, Data Management, Employment Practices Liability (EPLI), Cyber Liability Insurance, Health Insurance, Occupational Accident Insurance, Business Insurance, Client Company, Casualty Insurance, Disability Insurance and more.

To contact a PEO expert, please visit Libertate Insurance Services, LLC and RiskMD.