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What is Cyber Liability Insurance?
The sensitive data belonging to your customers and clients stored within company servers and on the cloud is vulnerable to attacks from hackers and other cyber criminals all over the world. Most business owners think only large corporations are in danger of cybercrime attacks. The reality is, all business, big and small alike, that are connected and utilize the Internet are susceptible to risk.
If you’re looking for affordable cyber liability insurance, you’ve come to the right place. Insured ASAP can help your small business find quality cyber liability insurance at the lowest rates. Contact us today for a 5-min phone quote: (800) 641-7488
How Can Cyber Liability Insurance Benefit Your Small Business?
More than one-third of businesses experience a data breach each year. If a similar event happened at your small business, would you be able to survive through and pay for the resulting damages?
Many cyber liability policies cover a variety of expenses associated with a cyberattack:
- Stolen data retrieval
- Reimbursement of fraudulent charges
- Identity protection services for customers at risk of identity theft
- Damage control for your business’ reputation
- Legal fees associated with the attack
- And other cleanup efforts
A general liability policy often excludes losses incurred because of the Internet. A cyber liability policy can fill in that gap. It may be the difference between closing your business and making a comeback.
Does Your Business Need Cyber Liability Insurance?
Most small business owners understand that the personally identifiable customer information they have on their computers is a target for hackers and that their online presence leaves them open to liability claims. However, far fewer take adequate measures to protect their business. Here are some example scenarios where a businesses could benefit from cyber liability or data breach insurance:
- The business has a network that their employees all save data on, which is helpful but also puts the entire operation at risk should a computer virus work its way in.
- The business keeps customer/patient records such as medical histories, credit card, bank account and Social Security numbers in its database – which is a target for hackers.
Why Your Small Business Should Consider Cyber Liability Insurance.
In the event of a data breach, a small business like yours must respond immediately to help protect impacted individuals and your business’s reputation. We provide coverage that can help with response related expenses including, costs to notify impacted individuals and good faith advertising. And in most states, cyber security coverage is available to help cover legal defense and liability expenses if your business is sued because of a breach. For any questions or a fast & easy cyber liability insurance quote, contact us today at (800) 641-7488