The Expert Podcast

• Think a cyber attack won’t cost your business much? Think again.
• Many business owners assume cyber attacks don’t actually destroy anything — no fire, no physical theft — so the damage must be minimal.
• But according to a CNET article from July 2022, the average data breach costs $4.4 million, especially for larger companies.
• Even smaller businesses aren't safe — breaches can easily cost hundreds of thousands of dollars, even at the low end.
• Ransomware, system outages, and data loss can severely disrupt business operations.
• If your accounts receivable system is down, you can’t collect payments. If your sales systems are frozen for days, you lose money and momentum.
• Customers may switch to competitors, employees may lose confidence, and company morale can suffer.
• A single cyber attack can shut down a business permanently if there are no recovery plans in place.
• Whether it’s through cybersecurity measures or a cyber insurance policy, it’s critical to evaluate and protect your business risk.
• Tune in to understand the real financial impact of cyber attacks and why prevention is far cheaper than recovery.