Cybercrime and Cyber Insurance: A Small Business Guide

What is the biggest threat to business in 2019? Is it escalating trade wars, global economic meltdown, nuclear war, or perhaps environmental calamity? Try again.
The biggest threat to business is cybercrime. Cybercrime is rampant, with worldwide costs expected to double from $3 trillion in 2015 to $6 trillion by 2021. And it is not just Fortune 500 companies that are paying the bill. In the past two years, two out of three small and medium-sized businesses (SMBs) had to deal with at least one security incident and cyberattacks on small organizations are only increasing. While not every security incident is equally devastating to business, more than half of all successful cyberattacks targeting SMBs result in financial losses of over US$500,000. This effectively means that a single cyberattack can put your small undertaking out of business, especially if your organization is ill-prepared for the potentially lethal threat posed by cybercrime.
If you are a small business owner and you don't know exactly what cybercrime is, what it means for your organization, let alone how you can prepare for this threat, you no longer need to worry, for Adam Anderson and Erik Wynter have written a book to help you out.