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Cyber exposure is here to stay

February 14, 2018
2:30 PM

Analysists predict that – once again – cybercrime will be on the rise in 2018. Insurance broker Aon pinpointed three reasons for increased cyber exposure:

  • Additional reliance on technology
  • Intensified regulation of consumer protection
  • Increased value of “non-physical assets”

What’s more, individuals in Maryland and Pennsylvania appear to be at a heightened risk. The two made the list of 15 states where cybercrime is expected to grow the quickest in 2018, based on data from the FBI and Insurance Information Institute.

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Small businesses, including independent insurance agencies, are at risk for cyber attacks and for accidental data breaches. While many E&O policies offer a cyber endorsement, a stand-alone data breach policy provides the benefits of broader coverage, specialized risk management services and a carrier with claims experience.

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