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IT Breaches and Cyber Security Risks Increasing for Texas Small Businesses

NEW YORK, Feb. 12, 2013 (GLOBE NEWSWIRE) -- Small businesses in Texas are growing more concerned about their IT risks. Hiscox, the specialty insurer providing US small businesses with the simplest way to purchase customized business insurance directly online and over the phone, today announced the results of a recent survey of IT consultants based in Texas.

Top line results from the survey include:

  • Growing Concern Over IT Risks: Over three-quarters (77 percent) of Texas-based IT professionals agreed that clients are more worried about IT risks now than they were a year ago.
  • Cyber Security: Exactly half (50 percent) of respondents agreed that more of their work in 2013 will focus on client security and data protection than a year ago.

Despite the uptick in concern around IT risks and cyber security, only 19 percent of small business IT professionals in Texas have been required by clients to carry insurance coverage to protect against cyber risks.

"Hiscox is committed to protecting small businesses, including IT professionals, against the risks that are unique to their industry," said Kevin Kerridge, Hiscox Director, Small Business Insurance. "As technology continues to evolve, the IT industry is seeing tremendous growth and new risks, leading to increased apprehension of small business owners."

Hiscox specializes in insurance for small business owners, such as professional liability (errors and omissions insurance) and commercial general liability customized for a range of fields including IT, consulting, marketing, photography, real estate, beauty and health.

Hiscox offers business insurance quotes direct and online in real-time along with other business liability insurance products, such as business owners policies. Since launching their ground-breaking online service in the U.S. in 2010, Hiscox has received an average customer service rating of 4.9 out of 5, and 96% of those surveyed would recommend Hiscox.

About Hiscox Small Business Insurance

Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Hiscox is the first company in the U.S. to offer insurance for small professional services businesses direct, online, and in real-time. We provide professional liability, general liability and business owner's insurance, underwritten by Chicago-based Hiscox Insurance Company Inc., which is rated 'A' (Excellent) by A.M. Best Company. Additional information can be found on the Why Choose Hiscox? page. Coverages are subject to underwriting and may not be available in all states.
Hiscox also provides professional liability, property and specialty insurance to US businesses through US-based brokers. This communication does not constitute a solicitation of business by Hiscox's syndicates at Lloyd's, London.

To learn more about Hiscox Small Business Insurance, visit http://www.hiscoxusa.com/small-business-insurance/ or speak with a Hiscox licensed advisor at (888) 283-7545 (Monday through Friday, 8:00 AM – 10:00 PM EST).

Read more news from Hiscox Small Business Insurance.

CONTACT: Hunter Hoffmann (646) 442-8341 hunter.hoffmann@hiscox.com Katherine McGann (for Hiscox) (203) 254-1300 ext.249 kmcgann@prosek.com Chris Brown (for Hiscox) (203) 254-1300 ext.206 cbrown@prosek.comSource:Hiscox Insurance