How Often Do Cyber Attacks Happen, and How Does Cyber Security Warranty Help Overcome Them

Nowadays, cyber-attacks are no longer a distant threat but a stark reality. In fact, according to a study, there are over 2,200 attacks each day, nearly one cyberattack every 39 seconds.

The risk is even higher for the infrastructure of larger enterprises. From ransomware crippling operations to data breaches exposing sensitive information, the cyber threat landscape is more dangerous than ever.

This is where a cyber security warranty becomes an indispensable asset. It’s not just about protection but peace of mind and business continuity.

So, how often do these digital onslaughts happen, and can a cyber security warranty truly be your savior? Let’s dive in.

The Current Cyber Attack Landscape

Over the last few years, the number and severity of cyberattacks have significantly increased. According to a study conducted by Comparitech, approximately 88.5 million people are victims of cybercrimes every year.

These attacks take various forms, including ransomware, distributed denial-of-service (DDoS), data breaches, insider threats, and more.

If we look into some current attacks, the Microsoft Azure outage on Jul. 30 was triggered by a cyberattack. This underscores the vulnerability of even the most robust digital infrastructures.

As we get to know about these types of attacks, let’s learn about some common impacts they have on businesses.

The Financial and Operational Impact of Cyber Attacks

• Financial Losses: Cyber attacks can cause substantial financial damage, including lost revenue and costs associated with recovery.
• Operational Disruptions: Attacks can halt business operations, leading to downtime and lost productivity.
• Reputational Damage: Breaches can tarnish a company’s reputation, eroding customer trust.
• Compliance Penalties: Non-compliance with data protection regulations can result in hefty fines.

The Role of Cyber Security Warranty for Small Businesses in Today’s Threat Landscape

Given the increasing frequency of cyberattacks, small businesses must explore all available options to protect themselves. A cyber security warranty for small businesses can be valuable in mitigating risks and providing financial protection.

Coverage for Lost Revenue

Cyber attacks can cause significant disruptions, leading to revenue loss as businesses struggle to restore their systems and resume normal operations.

A cyber security warranty helps mitigate this financial impact by covering lost revenue during downtime. This support ensures that businesses can maintain their financial stability and focus on recovery efforts without the added stress of severe financial loss.

Reputation and Compliance Support

In addition to financial protection, cyber warranty services often include services to help restore a company’s reputation and ensure compliance with regulations. This support can be crucial in maintaining customer trust and avoiding penalties.

Cost-Effective Protection

Small companies often operate on tight budgets, which is financially challenging traditional cyber insurance policies. Cyber security warranty for small businesses offers a more affordable alternative.

By focusing on specific coverage areas and eliminating unnecessary costs, warranties provide essential protection without straining a business’s finances. This allows small businesses to invest in other critical areas while safeguarding against cyber threats.

Beyond the Warranty: A Comprehensive Approach

While a cyber security warranty can offer financial protection, it’s essential to remember that it’s not a substitute for robust security measures. A comprehensive approach to cybersecurity is critical for safeguarding your business. This includes:

• Employee Training: Educating employees about cyber threats and best practices can significantly reduce human error risk.
• Network Security: Implementing firewalls, intrusion detection systems, and strong password policies can protect your network infrastructure.
• Data Backup: Regular data backups are crucial for disaster recovery and minimizing data loss in a cyberattack.
• Incident Response Plan: A well-defined plan for responding to a cyberattack can help mitigate damages and expedite recovery.

A cyber security warranty can serve as a valuable asset, providing financial protection in a catastrophic cyberattack. However, it’s essential to prioritize prevention through robust security measures and employee training.

By combining a comprehensive cybersecurity strategy with a cyber security warranty, small businesses can significantly enhance their resilience against cyber threats.

At Asgard, our ransomware warranty plugs directly into your EDR system. First, it protects the SMB from an attack through Endpoint detection and response. If an attack does break through, the warranty activates automatically and pays the SMB within 24 hours of the attack.

Conclusion

Small businesses are increasingly at risk from cyber attacks, and the consequences can be severe. Investing in a cyber security warranty for small businesses is a proactive step that provides financial protection, expert support, and comprehensive coverage.

By integrating a warranty into your cybersecurity strategy, your business can better manage risks and safeguard operations against the ever-evolving threat landscape.

Contact us today for more information on how a cybersecurity warranty can benefit your small business. Our experts are here to help you navigate the complexities of cyber risk and ensure your business is protected.

Also Read: What Businesses Should Know About Cyber Warranty in the Wake of CrowdStrike’s Disruption