The infographic explains that rising cyberattack costs, particularly for small and mid-sized businesses, have made cybersecurity insurance essential. Claims severity increased 103% in 2021, while ransomware demands rose 20% and premiums grew 34.3%. Stolen credentials caused 61% of breaches, and ransomware breaches averaged $4.62 million in losses. Multi-factor authentication is highlighted as a key insurance requirement, reducing account compromise risks by 99%. Insurance typically covers data loss, income disruption, extortion, and regulatory liabilities, but obtaining coverage without MFA is increasingly difficult.

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