Zuroovi Launches Online Marketplace To Make Shopping For Cyber Insurance Easier For Small Businesses

    RESTON, VA, June 28, 2016 /24-7PressRelease/ -- Zuroovi has officially launched its online marketplace platform to make it easy for small businesses to shop for the right cyber insurance coverage at the best rates.

"Zuroovi is the first marketplace platform of its kind dedicated exclusively to cyber insurance. And why not, given that over 90% of small businesses do not have cyber insurance?" said Peter Madara, Founder and CEO. "60% of small businesses that fall victim to cyber crime close shop within 6 months due to the weight of out-of-pocket costs among other things. General business liability insurance does not cover such costs, but cyber insurance does. We want to make it easy for small businesses to get the cyber insurance protection they so need."

Out-of-pocket costs that small businesses incur in the aftermath of a cyber breach can be significant. Such costs include costs for customer notification as required by state and federal laws, provision of credit monitoring to affected customers if debit or credit card data breached, forensic examination to determine extent of breach (mandatory where payment data is involved), legal costs for attorney assistance in dealing with third party corporations and regulatory agencies as well as defend against lawsuits initiated by affected customers, and liability for fraudulent credit card charges. A study by IBM and Ponemon Institute found that each breached record of sensitive data will cost a US-based business $201 on average - that's over $100,000 for just 500 records. "Although the average cost per record remains a much debated topic, the message is very clear that the cost of a data breach to a small businesses will always be in the tens of thousands of dollars", said Peter.

Zuroovi is simple to use and free for small businesses. When a small business operator visits the Zuroovi website (www.zuroovi.com) they complete a step-by-step quote request form in as little as five minutes or less. Upon submission, Zuroovi's matching engine matches the request with up to three cyber insurance agents who compete to find the best coverage and rates. Zuroovi's network of independent cyber insurance agents serves small businesses across all 50 US States and the District of Columbia.

Zuroovi was started by Peter after he experienced first-hand the frustration of shopping for cyber insurance as a small business operator. Whilst shopping for cyber insurance, Peter was surprised to learn that only a handful of the insurance agencies he reached out to actually provided this kind of insurance. Of the agencies whose websites claimed they offered cyber insurance, some never responded to quote requests submitted online whilst others got in touch for an introductory call and were never heard from thereafter. Finally, after a couple of weeks the time-consuming quest for cyber liability insurance quotes yielded fruit with multiple quotes obtained - some quoted premiums were up to 20% higher than others for comparable coverage. Comparative shopping was obviously worth it, but there had to be a better way for small business operators. Thus Zuroovi was born with a goal to make cyber liability insurance shopping easier.

Zuroovi is an online marketplace where it's easier for small businesses shop for cyber liability insurance. It's fast, completely free, and there's no obligation for small businesses to use Zuroovi. To learn more, please visit online at: https://www.zuroovi.com/

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