In the Headlines
February 19, 2025
What Is Cybersecurity Insurance and Why Do You Need It?
insurance.com
Insurance Industry Team Co-Chair Thomas Bentz was quoted in an article published by insurance.com discussing the essential role of cybersecurity insurance in today's digital era. As companies face increasing threats such as data breaches and ransomware attacks, the need for specialized coverage has become undeniable, especially for small businesses, which face heightened vulnerability because of limited resources to combat cyber threats effectively. Cyber liability insurance offers crucial protection for damages, including data recovery, forensic investigations and legal defenses in lawsuits. Mr. Bentz highlighted the importance of these policies.
"We have countless examples of claims against small businesses where the insurance policy 'saved' the business. [M]any of these cases involve class action allegations, which the company could not afford to defend without insurance coverage," he said.
READ: What Is Cybersecurity Insurance and Why Do You Need It?
"We have countless examples of claims against small businesses where the insurance policy 'saved' the business. [M]any of these cases involve class action allegations, which the company could not afford to defend without insurance coverage," he said.
READ: What Is Cybersecurity Insurance and Why Do You Need It?