7 in 10 businesses aren’t prepared for digital hacks and breaches. Larger firms can absorb the financial costs associated with a cyber attack, while smaller businesses can go bankrupt if not prepared. In 2019 most businesses have operations on-line, from cloud based software to e-commerce solutions making them highly susceptible to cyber security risks. In a world where data breaches online fraud, phishing scams and other cyber crimes are on the rise, Cyber insurance provides small businesses with the coverages they need at a surprisingly affordable price.
What should your Cyber Insurance policy provide?
- Data breaches and cyber attacks
- Information held by vendors and other third-parties
- Acts of terrorism
- Duty to defend you in a lawsuit or investigation
- Offer a breach hotline that’s available 24/7
Are you in need of first-party or third-party cyber coverage?
First-party coverage protects your data, including employee and customer information, while including your business’s costs related to legal counsel, recovery and replacement, customer notification, lost income, crisis management, cyber extortion or fraud, forensic services, and fees, fines and penalties.
Third-party coverage protects you from liability if another party brings claim against you, including payments to consumers, costs for litigation, claims and settlement expenses, losses related to defamation and copyright or trademark infringement, and accounting costs.
Are you ready to receive a Cyber Security Insurance quote? Click below to begin the process: