The recent news of a major system breach at a large company in the U.S. reminds us of a harsh reality: no business, no matter how big, is immune to cyber threats.

On July 16, a “malicious threat actor” managed to gain access to a cloud-based system of a third-party provider used by the company, stealing personally identifiable information of the majority of its 1.4 million customers. Although – according to the official statement – no breach of the company’s internal network was detected, the scale of the incident is enough to cause severe consequences: legal, financial, and most critically, damage to customer trust.

What does this attack teach us?

This case highlights two key truths:

• Cyberattacks do not discriminate. They are a threat to small businesses and freelancers as much as to global insurance giants.
• Technology alone is not enough. Even with strong security infrastructure, working with third-party providers creates a chain of vulnerabilities.

The solution: Cyber Risk Insurance – protection from the unpredictable

Cyber risk insurance is no longer a “nice-to-have.” It is a strategic necessity for every business handling customer data, financial transactions, or operating in digital environments.

Cybercrime includes a wide range of threats that can affect businesses of any size, such as:

• Data breaches (unauthorized access to confidential information)
• Phishing attacks (fraudulent attempts to steal sensitive information)
• Ransomware attacks (where attackers demand ransom to restore access)
• DDoS attacks (aimed at disrupting online services)
• Insider threats (security breaches originating from within the company)

With a well-designed cyber insurance policy, you can secure:

• Coverage for breach response costs (technical support, legal advice, data recovery)
• Compensation for loss of income due to business interruption
• Liability coverage towards customers or third parties for data leaks
• Reputation management and crisis communication services

It’s not a question of “if,” but “when”

As this case has proven, even the most well-organized organizations can become targets of a cyberattack. Cyber risk insurance is the last line of defense – an investment that safeguards not only your financial stability but also your credibility.

👉 Contact us today to assess your company’s needs and design the right cyber risk coverage for you.