Malicious cyberattacks have risen dramatically in recent years and are now a major source of concern for risk managers. According to Hauser Insurance Group, hacking has affected over 60% of small and medium-sized enterprises. According to IBM and Ponemon Institute research from 2020, each cyber breach costs an average of $3.86 million. Business owners that are proactive should take urgent steps to mitigate these significant data security concerns. CyberCube, a data-driven software analytics solution meant to assess a company’s cybercrime risk, is used by Hauser Insurance Group. Hauser Insurance can determine the insurance coverage required to manage the risk using this information. Many ransomware attacks are now fully automated. This shows that fraudsters are growing more clever and have access to cutting-edge technologies. According to statistics given by the Cover ransomware analytics business, ransomware attackers target firms based in the United States the most frequently. More than 60% of ransomware attacks are directed at small and medium-sized organizations. The CyberCube security solution, a data-driven analytics tool that evaluates a company’s risk posture, has been implemented by Hauser Insurance Group. The existing security controls in place at the company are also factored in.
A risk mitigation expert from Hauser Insurance Group suggests the right cyber insurance policy based on this information. Each targeted insurance product addresses concerns about business disruption as well as breach response. In a typical cyber insurance policy, extortion possibilities, as well as regulatory and legal ramifications, are considered.
This reputable organization, which was founded in 1971, has given customized risk management and insurance solutions to clients in a variety of industries. This company is well known for its expertise in employee benefits. Hauser concentrates his practice on private equity firms and their portfolio companies. When it comes to targeted acquisitions, the Company also provides coverage for certain risks.