At an estimated $1 billion to $2 billion, 2013 sales of cyber insurance were a fraction of the $1.1 trillion in total U.S. insurance premiums last year…with the number growing exponentially in the foreseeable future.
Though 2013 sales of cyber insurance were a whopping $1 billion to $2 billion[/inlinetweet], that was still only
a fraction of the $1.1 trillion in total U.S. insurance premiums last year.
While customer data security is very important for the small business owner, this insurance is still another in the long line of major expenses that every small business owner must incur.
Sadly, every small business owner will have no choice but to purchase cyberinsurance or face losing in the event of any major law suits. Not having it would be considered irresponsible and lack of affordability would not be an excuse.
Not so sure we should thank Clarity or hate them. Time will tell.
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