Category : Cyber Liability
Technology has revolutionized today’s world and businesses, both big and small, benefit greatly from incorporating new technology into their business plans. From online sales to remote employees, to networked systems, businesses can’t succeed in today’s digital landscape without advanced technology. While there are countless benefits, there are also risks associated with our tech-driven world. Hackers and cyber-attacks are all too common and it isn’t just big corporations that are at risk. Businesses of all sizes should be aware of cyber threats and work to protect themselves and their business interests.
What is Cyber Liability Insurance?
Despite what many people assume, a general liability policy is not adequate to protect a company from potential losses due to cybercrime. Cyber liability is a type of insurance put into place to keep businesses safe from extensive damage due to a data breach. This type of policy is specific to cyber-related claims and can at as protection from financial loss if your system is hacked or you experience a cyber-attack. However, cyber liability insurance is not enough. Companies must still incorporate advanced security software and employees to monitor activity.
Who Needs Cyber Liability Insurance?
If your business utilizes cyber technology at all you should work with an insurance agent to evaluate your cyber protection. Don’t assume your company is small enough to be safe. Cyber-attacks are becoming more common and hackers are getting more and savvier. Protect yourself, your customers and your company from cyber threats with comprehensive cyber insurance today.