- 58% of victims are categorized as small businesses
- 15% of breaches involved the hospitality industry
- 73% of cyberattacks were committed by outsiders. Do the math. That means the rest were committed by those you hired and those you trust
- 90% of all breaches in the hospitality industry involve your POS system
- 96% of breaches are not discovered for months
- 17% of breaches were caused by innocent human errors, such as employees not acting deliberately or for their own benefit
- 39% of cases involved ransomware because it is one of the easiest attacks a cybercriminal can launch
Do You Have Cyber and Privacy Coverage?
The hospitality industry continues to be dominated by opportunistic and financially motivated POS breaches. The main threat actions continue to be hacking and malware.
Including cyber and data breach insurance coverage can provide your defense against claims that your systems caused a loss to another entity, or a breach of your system caused customers or employees to have their own data breached.
A breach claim can trigger coverage for legal defense costs, investigation expenses, forensics, data reconstruction, breach notice costs and credit monitoring services to impacted parties, as well as the real possibility of paying claims that arise from the impacted individuals.
Today you can generally purchase some small amount of cyber and privacy coverage on most restaurant or bar business policies. These endorsements can provide adequate protection for some businesses, while others will benefit from a separate and more robust cyber and privacy insurance policy.
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