The virtual attack on businesses.
Cyberattacks are on the rise and experts expect a record-breaking year in the number of attacks that will occur.
- Do you think that because you have a small business you don’t need to worry about the potential of a cyber threat to your company?
- Do you feel like your business is unprepared and unprotected should someone hack into your company’s systems?
- Do you wonder how you will handle a risk if it comes to a vendor you work with or other third parties?
Often times companies think it can’t happen to me, my business isn’t large enough, but the risk is real no matter the size of your company.
According to Property Casualty 360, the U.S. has seen several high-profile attacks within the first half of 2021. However, most policies written in the past years do not include cyber liability insurance.
Your business may be at risk for several different types of attacks including.
What can I do to protect my business in the event of an attack?
Cyber liability insurance can help your company offset the financial impact of a business interruption caused by a cyber-attack.
As an owner, you may find that adding this coverage is cost effective and can be part of your business owner’s policy.
It just makes good business sense to include it.
If you don’t know whether your business has cyber liability insurance, it probably doesn’t.
Cyber insurance normally helps with recovery from a cyber-related security breach or similar type of event. Along with legal fees and expenses, it will typically cover:
Notifying customers about a data breach
Restoring personal identities of affected customers
Recovering compromised data
Repairing damaged computer systems
Does my business really need cyber insurance?
- Equally important to ensuring you have coverage is to make sure you have the right coverage, and the more knowledge you have around the subject, the more confident you’ll feel about your investment.
- Our trusted commercial insurance advisors at Choice Insurance Agency can help you better understand your cyber risks and save you time in searching multiple insurance companies for the right coverage and rate.