Insuring Cyber Podcast - Insurance Journal
Jul 29, 2026 · 1 min · 2 segments
Learn how failing to meet multi-factor authentication (MFA) requirements can jeopardize cyber insurance claims and why many small businesses remain financially vulnerable to costly cyber breaches. To…
Alvito VazGuest
Elizabeth BlosfieldHostI'm curious if an agency doesn't meet those MFA requirements that you just talked about, what could happen if they experience a cyber incident and need to file a claim?
A recent study I read said only 17% of insurance of small businesses even have cyber insurance, though they are 43% of all cyber attacks.
And as far as solvency of the company, this is probably one of the largest risks.
An IBM study reported that the average small business breach cost is over $3 million.
I'm curious if an agency doesn't meet those MFA requirements that you just talked about, what could happen if they experience a cyber incident and need to file a claim?
A recent study I read said only 17% of insurance of small businesses even have cyber insurance, though they are 43% of all cyber attacks.
And as far as solvency of the company, this is probably one of the largest risks.
An IBM study reported that the average small business breach cost is over $3 million.
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