Just released: How to raise venture capital in 2023

Download

How a Data Breach can Destroy Your Startup [Infographic]

Carl Niedbala - Founder Shield
Carl Niedbala

COO & Co-Founder

 

Our friends over at egress sent us this really great infographic that shows the current state of cybersecurity and data breach issues surrounding costs, incidence rates, and those most effected.  The numbers are based on data collect by the UK-based Department for Business Innovation & Skills, but in an ever-growing global economy, they certainly have implications worldwide.

The key takaways for startups include the following:

  • 60% of small businesses surveyed reported a data breach.  Startups can be a real target for hackers.
  • 10% of those that reported suffering a data breach had to change the nature of their business due to the reputational damage sustained.  For startups, reputation is everything as the fragile brand is carefully strengthened.  One data breach instance could cause irreversible harm and compromise tons of hard work.
  • Costs have DOUBLED from last year for both small and large businesses.
  • 31% of breaches were due to human error.  This resonates with a previously conducted study by a US entity showing that employee negligence is a massive cause of data breach incidents.  In a startup environment where many employees are working on the go and off personal laptops, this can be a huge threat.  All it takes is 1 employee leaving a laptop or cell phone in a taxi to cause a massive loss.

All of this continually demonstrates the need for risk mitigation on the cyber front.  We’ve created this quick handy cyber liability checklist and of course we’re always available to talk about Cyber Liability insurance.

 

 

Cyber Security is important. Reach out to us and we’ll help you get the coverage you need to protect you from liability you have little control over.

We’ll be here. (646)-854-1058. And here info@foundershield.com

[vc_btn title=”GET A QUOTE” style=”outline-custom” outline_custom_color=”#ee2524″ outline_custom_hover_background=”#ee2524″ outline_custom_hover_text=”#ffffff” shape=”square” size=”lg” align=”center” link=”url:https%3A%2F%2Fapp.foundershield.com%2Fusers%2Fsign_up|||”]

Related Articles

cyber insurance pricing trends 2024
March 13 • Cyber Liability

Cyber Insurance Pricing Trends 2024

Uncertain about cyber insurance costs in 2024? Our article explores pricing trends, expert predictions on rate increases, and strategies to potentially reduce your cyber insurance premium.

cyber liability insurance premiums
March 4 • Cyber Liability

7 “Must Haves” For Cyber Liability Insurance in 2024

With cyber liability insurance premiums rising, business leaders must have the inside scoop to keep costs low. Our partners at Blacksmith InfoSec delve into those tips and tricks.

Cybersecurity Data Breaches
November 9 • Cyber Liability

Top 10 Cybersecurity Data Breaches of 2023

Today’s digital landscape is frightening for business leaders. Here’s a glimpse into some of the most cringe-worthy data breaches in 2023 — plus, how to avoid them.

Cyber Insurance Pricing Trends
July 19 • Cyber Liability

Cyber Insurance Pricing Trends 2023

After a hard-hit 2022, let’s explore the lessons learned, what currently impacts the cyber market, and cyber insurance pricing trends to expect in the future.

multi factor authentication
January 24 • Cyber Liability

Securing Your Company With Multi-Factor Authentication: A Complete Guide

Cybersecurity is a priority for most company leaders, with multi-factor authentication spearheading the endeavor. Here’s how to make it a reality in your organization.

cybersecurity-awareness-month
October 6 • Cyber LiabilityRisk Management

Cybersecurity Awareness Month 2022 — Data, Data, Goose!

As the leaves turn golden and the wind blows colder, cybersecurity awareness month is upon us! Here’s what it’s all about and how your company can stay cyber-safe.