If you operate an SME, there is a 1 in 2 chance your business will be the victim of a cyber attack in the next 12 months. Globally, a business cyber attack costs an average of $200,000 in lost income, and IT repairs.
Every day, tens of thousands of ingenious criminals come online to hold ransom, steal from, or even destroy small businesses like yours. Security research shows that 60% of small businesses will fail within 6 months following a cyber attack, because the costs to repair infected systems are punishingly high. And, 60% of those businesses had no cyber protection. Spot the correlation?
Thankfully, you can protect your business against these threats. A good Cyber Insurance policy will pay for IT experts to stop cyber attacks, for replacement/repair to your computer systems, and for legal liability if you lose confidential data.
When your business gets attacked, how protected do you want to be?
Provide offers only the market’s best Cyber Insurance policies, with comprehensive coverage to ensure your profits aren’t stolen by cybercriminals.
Cyber Insurance is critical for you, especially if you operate an SME business. Almost 60% of SMEs in Singapore have experienced cyber attacks in the last 12 months. Despite this cyber onslaught, 70% of SMEs in Singapore don’t protect themselves with Cyber Insurance. There is a dangerous mismatch between threats from hackers and defensive measures deployed by SME organisations.
If you’re on the fence about whether to get Cyber Insurance, it’s helpful to think about some points:
This insurance is particularly crucial for the following types of business types:
For most SMEs that have annual revenues of less than $5,000,000, you should consider coverage of at least $500,000 and above, as a minimum starting point.
For SMEs with revenues above $5,000,000, or operations in industries with lots of sensitive data (like technology, financial services, or healthcare), it’s best to speak with an experienced broker who can determine a more precise coverage level for you.
Our industry experts will:
1. Analyse your unique needs.
2. Craft you a custom Cyber policy.
3. Search the market for the best coverage and lowest prices.
How ready are you to defend your company?
Cyber Insurance premiums start from just $54.16/month, for $250,000 coverage. Coverage amounts can be increased to suit your unique needs. That’s remarkably affordable given the high frequency of SME cyber attacks, and high costs to repair damaged systems.
With Provide, you save up to 25% on your premiums. Our digital operating model creates lower overheads, and we pass every dollar saved back to our clients.
