All Posts tagged Cyber liability insurance

Data Compromise and Your Business

Data Compromise and Your Business

Every business is at risk. Cyber criminals are crawling the web looking for new ways to steal confidential information. If your business maintains client files with any sensitive customer information, it is vital that you have cyber liability insurance.

Sensitive Information

Before thinking that your business does not maintain sensitive client data, consider a list of what items are included:

  • Health records
  • Social Security numbers
  • Driver’s license numbers
  • Credit card numbers
  • Bank account information

Most businesses maintain files with one or more of the listed items. Even if your business does not store files, any access to any of this information creates risk. Every purchase involving a credit card or bank account is a potential for data breach.

Expenses

Maintaining profitability means keeping expenses as low as possible. For this reason, many businesses have chosen not to carry cyber liability insurance. Consider some of the expenses that a failure to have adequate coverage can incur:

• Repairing compromised equipment
• Notifying clients that there has been a breach
• Legal expenses
• Recovering information lost in an attack

Peace of Mind

The good news is that your business does not have to face this scenario alone. Discuss your cyber liability insurance options with a qualified professional and get the coverage that will best protect your business.

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