Hunter NelsonOwner of Nelson Insurance Agency

Cyber Insurance Your Business Lifeline After Attacks!

3 Sept 2026 · 1 min

Watch on YouTube

0:35

In this segment, Hunter Nelson emphasizes the severe impact of cyberattacks on small businesses, citing that 68% of them cease operations after their first incident. He argues that cyber insurance is essential, explaining that policies can cover lost data, regulatory fines, and the costs of deploying an IT response team to restore operations. Nelson highlights that insurance can also provide substantial financial payouts—up to $1 million—to offset revenue losses while a business is offline, and that insurers actively work to get companies back online rather than merely offering a lump‑sum check.

Chapters

The thing is that when a claim comes up, a ransomware attack comes up, anything happens, most guys go outta business. Like I said, 68% of small businesses go out of business after their first cyberattack. And so it's huge and huge and huge to have this stuff. Cyber insurance will pay for, well, some of them can pay for the lost data, for the fines, to get IT team back out there and get you guys back up and running. Not just pay for the, oh, you lost $400 grand because you've been sitting for a week. Just going to keep it happening and we'll pay you out up to $1 million, right? They will actually fight to get you back online.