MSPs Need a Seat at the Cyber Insurance Table

Small and medium-sized businesses (SMBs) are increasingly targeted by cybercriminals using sophisticated methods in today’s digital-first business world and rapidly evolving cyber-threat landscape.

The 2022 Verizon Data Breach Intelligence Report (registration required) found a surge in cyberattacks targeting small businesses. That year, 74% of known data breaches impacted small and midsize businesses (SMBs), an increase from 46% in 2021. The 2023 Verizon Data Breach Intelligence Report (registration required) had an even stronger warning for SMBs. It found virtually no difference between small businesses’ threats and those aimed at larger organizations. Yet SMBs need more resources, leaving their IT teams overworked and understaffed.