Unfortunately data breaches and other cyber crimes are becoming commonplace. As technology becomes more complex and sophisticated, so do the threats we face. That’s why just about any organization or business that uses technology faces a possible cyber risk. In the last few years data breaches have resulted in major fines and legal fees, not to mention the loss of trust from customers.
Its not just large corporations that are susceptible to hackers and viruses. 55% of small business have experienced data breaches, and 53% have had multiple breaches. This can damage your business reputation, as well as put your customers and/or clients at risk. That’s why cyber liability insurance can be a smart precaution for businesses of any size.
This is why every business needs to be prepared with both cyber liability insurance and an effective cyber security plan to manage and mitigate cyber risk.
Besides legal fees and expenses, cyber liability insurance typically helps with:
- Letting customers know about a data breach
- Restoring personal identities of affected customers
- Recovering compromised data
- Repairing damaged computer systems
We understand the complexity of cyber threats and have solutions to help protect your business assets.
Our concierge insurance agents will take the time to explain your options and tailor a cyber liability insurance policy suited just for you. Ensuring the protection of your assets.