Accounting Firms are Vulnerable to Data Breach
It’s imperative CPAs and accounting firms have cyber insurance should a data breach or cybercrime occur. Call or text: 877-411-2324 to get multiple quotes from A-rated insurers with the cyber reports for your company.
Did you know it costs over $200,000 after a data breach? General liability or professional liability policy won’t cover cyber incidents for your accounting firms.
Data privacy is at risk as accounting firms have valuable personal and financial details of clients’ information. Not only your firm face data breach but also, your clients’ sensitive information is exposed to plan cyberattacks against them.
When your data is breached, you must notify each breach party as accounting firms collect large amounts of financial and personally identifiable data. There’s also a risk of lawsuits as clients’ confidential information is hacked. The forensic cost will need to be covered by the accounting firm to investigate the extent of the breach typically, that would cost you anywhere between 250 to $500 an hour and it takes weeks!
When your accounting firm carries a cyber policy, you can mitigate your financial risk by having proper coverage for your accounting firm. Coverages include cybercrime such as cyber extortion and cyber engineering. A Comprehensive cyber policy also covers notification and forensic costs, and also business interruption costs along with the reputational harm.
When an accounting firm or a CPA has a cyber policy, it covers all the costs associated with data breach and cyberattack!
Save time and money by getting your cyber insurance quote instantly along with your cybersecurity report. See how this important investment can save your business in the event of a cyberattack, data breach, or system failure.
Due to all the sensitive information accounting firms collect from their customers, protect your accounting firm…secure your future…get cyber insurance.
Don’t wait, mitigate!
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Sharmeen Rehman
BlackFire Cyber Insurance