Wallingford, CT April 12, 2016 – Petruzelo Insurance, an independent insurance agency based in Wallingford, is announcing the expansion of their business insurance offerings with the addition of both cyber liability and computer attack coverage.
As cybercrime and hacks become more common, these types of insurance coverages are increasingly a necessity for businesses of all sizes. While many small or medium-sized business owners might think that cyber attacks are only a problem for large corporations, nothing could be further from the truth.
According to recent statistics, 87% of small businesses nationwide have reported being the target of some form of cyber attack, and 60% of all attacks in the country are targeted at small or medium-sized businesses. This is not insignificant: there are close to 35,000 attacks recorded each day. Hackers and cybercriminals often target smaller companies because they lack the kinds of security that larger corporations are able to invest in.
While larger corporations are likely able to absorb the cost of cyber attacks, this is not always the case with small businesses. A recent study by Kaspersky Lab found that the average cost of a security breach for a small business is $38,000. Other studies have found that as many as 60% of small businesses who are the victims of cybercrime will close their doors within six months of the attack. These costs arise from lawsuits, downtime, data restoration costs, and loss of business.
Cyber liability and computer attack insurance from Petruzelo can help protect businesses from suffering the worst of these effects in the increasingly likely event of a cyber attack or security breach.
Computer attack coverage from Petruzelo includes coverage for the logistical costs of recovery from a cyber attack. This includes data restoration, system restoration, data re-creation, and loss of business.
Policies for cyber liability, or network security liability, include coverage against liability suits alleging that a network security failure has resulted in a breach of confidential information, forwarding of malware, or unintended abetting of other cybercrime.
About Petruzelo Insurance
Petruzelo Insurance has over 50 years’ experience helping Connecticut residents and business owners find peace of mind by protecting what matters most. From personal insurance including homeowners, renters and condominium insurance to business insurance including business interruption, general liability and commercial auto, Petruzelo Insurance has agents on hand who will listen to your unique needs and get you the facts and information you need to make informed decisions regarding your insurance coverage.
Company Name: Petruzelo Insurance
Contact Person: Judy Ragaini
Phone: (866) 479-3327
Address:4 Research Parkway
Country: United States