Cyber liability insurance policies were created to fills gaps in traditional insurance policies. Let’s take a look at why EVERY business needs cyber liability insurance.
- Does your business have a website? Is your business active on social media? Chances are your current insurance policies haven’t kept up with technology. Cyber liability policies protect your business against allegations of defamation, libel, slander, invasion of privacy and many other things. What you see as harmless may be offensive to someone following you on social media. Even frivolous lawsuits must be defended.
- Every business must store personally identifiable information (PII). From personnel files to workers’ compensation claim reports, many documents contain social security numbers, date of births and even medical information. Again, chances are your current policies may exclude lawsuits that arise from someone stealing your data. Cyber liability policies cover the costs of notifying everyone that is affected and the cost to hire a public relations firm to help protect your business in the media. They also provide coverage for defense costs and potential regulatory fines and penalties.
- The best firewalls and antivirus programs can’t stop a disgruntled employee from stealing and selling your data. Cyber liability policies give you the peace of mind that you have someone to turn to if this happens to your business.
- Extortion attacks. Your business gets a call from someone in another country notifying you that you no longer have access to your computer network. They will restore access as soon as you wire $25,000 to an offshore bank account. What do you do? Cyber liability policies provide support services for these situations and help you negotiate and get your data back.
- Most important, cyber liability policies give you someone to talk to. Do you know what to do or who to contact if your business had a data breach? Help is just a phone call away when you buy cyber liability.
It is more important than ever to protect your business from cyber attacks. Don’t have a cyber liability policy yet? What would you do if you had a data breach? We can give you the peace of mind of knowing that help is only a phone call away.
Buying cyber liability coverage has never been easier. No more 10 page applications. We can quote and bind coverage for most businesses in less than five minutes! Call or text to start your quote today.