Case Law Analysis

Why Lawyers Say Every Business Should Buy Cybersecurity Insurance

With looming attack and litigation risk, lawyers say every business should buy cybersecurity insurance because lawsuits often follow cyberattacks.

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Hacker at a computer. Photo: Melinda Nagy/stock.adobe.com Photo: Melinda Nagy/stock.adobe.com

Cybersecurity incidents, like ransomware attacks and data breaches, are increasingly making daily news headlines, bringing crushing costs to businesses.

In the latest incident, a Russian cyber gang hacked Miami-based software company Kaseya in a ransomware attack that impacted about 70 of its customers—managed service providers with multiple downstream customers, according to The Associated Press. The attack might impact up to 1,500 small businesses like restaurants or accounting firms, reported CNN.

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