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Cyber Liability Insurance Is Your Digital Defense

By February 13, 2012 August 22nd, 2018 Uncategorized

Whether your data is compromised by a hacker, virus, cyber thief, or simply because of lost or stolen laptops, flash drives, and smart phones, data breaches can have serious consequences. There are substantial financial costs involved in finding and remedying a breach including the cost to notify your customers, along with possible fines and legal expenses.

Businesses throughout New York and across the U.S. have been targeted on line because hackers want to obtain sensitive information such as competitive data or financial information about their customers. What would that cost your organization? Could you survive an uninsured loss?

Cyber liability insurance is coverage that is designed to provide protection against data breaches, network security, intellectual property theft, privacy issues, errors and omissions, as well as other internet or technology related problems.

The cost of the insurance varies based on how secure your data is – physical security and network security. Make sure your wi-fi is secure and encrypt the password. Outline a plan for protecting sensitive information and what you will do if your security is breached. No one staff member should have access to all your systems. It’s safer to provide access as needed.

Traditional liability products do not address internet exposures and the risks involved have blossomed with the internet itself. Don’t let your business suffer damage to its reputation or an interruption in business due to a technology breach, instead, utilize the expertise of an insurance agent with experience in Cyber Liability coverage. Call The Flanders Group to learn more at 800-462-6435.