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First the attack, then the lawsuits: Why every business should have cybersecurity insurance

Lawyers say that any type of business that collects customer or employee data should consider buying this insurance.

By Angela Morris | July 09, 2021 at 12:01 PM

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Cybersecurity incidents, like ransomware attacks and data breaches, are increasingly making daily news headlines, bringing crushing costs to businesses.

In the latest incident, a Russian cyber gang hacked Miami-based software company Kaseya in a ransomware attack that impacted about 70 of its customers—managed service providers with multiple downstream customers, according to The Associated Press. The attack might impact up to 1,500 small businesses like restaurants or accounting firms, reported CNN.

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