Cyber Liability Insurance 101
In the modern digital age, cyber security is becoming more and more important, for both large companies and small businesses. If your data and systems aren’t protected by a comprehensive insurance plan, then it may be time to start looking into a policy to protect yourself.
Cyber liability insurance can guard against online crimes such as the following:
- Phishing scams
- Hacker attacks
- Identity theft
- First or third party data theft
- Cyber extortion
Did you know that business assets such as data are not covered by standard business insurance? Nor does cyber crime fall under the coverage of many normal insurance policies! Losing time or valuable data, like credit card information, can have a huge impact on your business. It’s important to be protected from these risks.
You want to ensure your reputation is protected in the event of a security breach. Cyber liability insurance will even cover claims arising from information leaked over social media or email, in some cases. It will also help you comply with breach notification laws, if sensitive information is exposed in a cyber attack.
These are just a few examples of how cyber liability insurance can help your business. Many people assume that only big corporations are being targeted by hackers, but small businesses with weaker security systems are increasingly at risk. Don’t leave yourself vulnerable.
If you’d like more information on how cyber liability insurance can help, contact us today to learn about cyber liability insurance in Guelph, Fergus, Elora or Shelburne.