Every business is exposed to ransomware, cyber extortion and data breach. Phishing, Wire Transfer Fraud, ransomware, data breach are common cyber attacks and cyber crime. Since 2000, it’s been accelerated growth of technology. Malware and other small attacks have been a part of our digital platform soon after Internet started in the late 1960s. We all are highly aware and even get insurance protection for our homes and cars as soon as we purchase these assets. When we are invested in our business, we immediately get general liability or errors & omissions insurance to ensure that we mitigate our financial risk for any unforeseen negligence, accidents or events that are out of our control, even as we take all precautions to secure our personal physical and business assets. What we completely are unaware of is that our homeowners insurance will not cover digital perils. What we assume is that our typical general liability policy or our professional liability will pick up cyber related incident and business/digital asset losses. We need personal cyber insurance & cyber security insurance for our company to cover cyber attack, notification costs, forensic cost along with 3rd party liability costs!
Having an insurance policy that is expressly dedicated to covering cyber-related incidents is critical. Since the businesses of all sizes are exposed to cyber threats, it is so necessary for us to have cybersecurity measures. Comprehensive CYBER INSURANCE is such an integral solution to add to our portfolio.
Any business owner – big or small – with any sort of online presence ought to put security measures in place along with risk mitigation plan so if after all that could have been done to tighten up the security posture, there’s a mitigation plan to offset the cost of what is OUT of your control. Cyber security insurance covers the legal and technological aspects of data breaches & cyber attacks. This is where cyber insurance coverage can save businesses from shutting down and provide the financial support needed to survive the horrible cyber attack event.
Don’t wait…mitigate.
Reach out today to see how this crucial investment can protect your business assets!