Phishing Scams Are on the Rise—Is Your Business Protected?

Phishing attacks are one of the most common and costly cyber threats today. Someone falls victim to a cyberattack every 11 seconds. Hackers use fake emails, texts, or websites to trick employees into sharing sensitive information, like passwords or financial details. Have you considered how a single phishing attack could disrupt your business, or even put your clients’ data at risk? 

Phishing scams are getting more sophisticated, often mimicking familiar brands or trusted contacts. If one employee unknowingly falls for a phishing email, it can lead to costly breaches, legal liabilities, and reputational damage. How well-equipped is your team to recognize these threats? And, more importantly, do you have a plan in place if an attack succeeds? 

Cyber insurance can be a powerful safety net, helping businesses cover the costs associated with phishing attacks. From legal fees and data recovery expenses to fraud coverage, a cyber insurance policy can provide critical support when you need it most. It also often includes resources for employee training, so your team becomes the first line of defense against phishing attempts. 

If you are running your business without the protection of cyber insurance, you are taking an unnecessary risk. Almost six in ten businesses have suffered a ransomware attack this year. Don’t be a statistic! At Knight Insurance Group, we tailor our cyber insurance solutions to cover the specific risks facing your business. Talk to us to get started. 

Del Vath is a cyber risk consultant and resource manager for Knight Insurance Group.

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