Cyber Insurance

Posted by Jim Pietro on Nov 3, 2014 5:58:00 AM

 

 Cyber Insurance

 Should your business consider Cyber Insurance? Is your confidential information at risk? 

Although it’s easy to have the “it couldn’t happen to me” attitude toward security breaches and data theft threats, in reality your company can be at a higher risk then you may realize. Retailors across the country are paying closer attention to how they store and insure their data. Are you?

To go with this, its not just the large companies that make national headlines for having millions of customers’ information stolen, such as Target back in December, that are the victims. Experts say medium and small sized businesses are just as likely to become a victim of security fraud as large companies, if not more.

According to Symantec’s 2013 Internet Security Threat Report; last year, 31 percent of all attacks were aimed at companies with less than 250 employees.

How at risk is your business?

As businesses do their best to keep up with the tech savvy market by introducing mobile apps, accepting quick mobile pay options (such as Google Wallet or Square) and having online customer reward policies, more and more information is being recorded. This customer-data-oriented industry is forcing retailors and service companies large and small to find the best coverage for their business.  Check here for reasons why your business may need Cyber Liability Insurance.

Does your business have a customer database that records: Email addresses, phone numbers, mailing addresses, credit card numbers, social security numbers or any other personal or financial information? If so, does it have the Cyber Insurance plan it should?

It’s not just the tangible losses that are in jeopardy; your business’s trust and reputation are on the line. If the unthinkable happens, you’ll want the assistance and coverage you need.

Take Cyber Risk Assessment

Topics: Cyber Insurance, Jim's Blog, commercial insurance, business insurance

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