Cybercrime isn’t just a big-business problem anymore. From local retailers to professional service firms, attackers know smaller organizations often have fewer defenses—and faster payouts. Yet too many businesses still believe “it won’t happen to us.”
The New Reality of Cyber Risk
- Global average cost of a data breach in 2024: $4.88 million, a 10% increase from 2023 (IBM).
- In the U.S., the average breach cost soared to about $9.36 million per incident (Prolion).
- Healthcare breaches remain the most expensive: average cost hit $9.77 million in 2024 (NPF Networks).
- Ransomware attacks globally rose by 15% in 2024 compared to 2023 (DNI.gov).
- The average ransomware claim in early 2025: $1.18 million, up from about $705,000 in 2024 (Insurance Business Mag).
- Nearly 75% of businesses faced ransomware in 2024; though that figure dipped to ~69% in 2025, the threat remains pervasive (TechRadar).
Why General Liability Isn’t Enough
Many businesses assume their general liability or property policy covers cyber events. In reality, most exclude coverage for:
- Ransomware payments and extortion costs.
- Regulatory fines (HIPAA, PCI, state privacy laws).
- Business interruption from IT outages.
What Standalone Cyber Insurance Covers
- Incident response: Forensics, PR, legal counsel.
- Business interruption: Replace lost revenue during downtime.
- Regulatory defense: Coverage for fines and investigations.
- Data recovery: Restoring or rebuilding lost systems.
Why SeedPod Cyber is Different
- Industry-agnostic: We protect retailers, manufacturers, healthcare providers, financial firms, and more.
- Fast, competitive quotes designed for small and mid-sized businesses.
- Risk support beyond the policy: practical guidance to help prevent attacks before they happen.
Don’t wait for a breach to learn your coverage gaps. Contact SeedPod Cyber today to benchmark your current protection and get a competitive standalone cyber quote.