The cost of a cyber breach could devastate your firm. Investment into cybersecurity protects you by mitigating risk of a breach and increasing the likelihood that your cyber insurance will cover damages.
If your firm experiences a cyber breach you may be required to report it to authorities. If you cannot evidence adequate cybersecurity controls and policies, you may be fined for negligence. Additionally, contact notification, credit monitoring, forensic analysis and legal fees may be added to the cost.
For information about cybersecurity, including estimated financial risk for your firm: https://fcicyber.com/contact-us/