Yes, small businesses increasingly need cyber insurance because they are frequent targets for automated phishing scams, ransomware attacks, and credential theft by cybercriminals who assume small firms lack robust security defenses. A single severe cyber incident can trigger tens or hundreds of thousands of dollars in recovery, forensic, and legal costs that can threaten corporate solvency. Because standard commercial general liability policies exclude digital asset losses and data breaches, dedicated cyber coverage provides a crucial financial safety net.
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