We all have heard about the multiple data breaches that happen over and over again.
Without naming specific countries of origin, all companies are vulnerable. The hackers who are working around the clock try to put their hands on important customer and business data.
Any breach would significantly affect your profits. Your business growth, reputation and revenue will all be affected. The average medium size business data breach has cost between $3.1 million to $3.5 million, according to a recent study.
If you maintain private employee or customer information such as credit card numbers and social security numbers, birth dates, health information, and other details you will be held liable if a hacker puts his/her hands on such information. You need to protect your business and consider investing into a Cyber Insurance Policy.
Cyber, Website and Media Coverage’s
- Cyber breach of your computers, servers, or cloud based data. Unauthorized Access and/or Denial of Service that includes coverage against claims resulting from unauthorized access of personal information by hackers, competitors or also employees
- Cyber Extortion that protects your business against those who threaten your computer systems or website, then demand money or good to call off the threat.
- Website that includes coverage against claims resulting from unauthorized access of personal information by hackers, competitors or employees.
- Media Liability that protects your business against claims including issues of trademark and copyright.
- E-Professional or Professional Errors and Omissions that focuses on protection from claims due to errors or omissions on your website
- Theft of Money, Securities or Other Property that includes coverage against unauthorized theft of client lists, proprietary information, and trade secrets.
Special attention to your primary insurance policies is a must. If covered at all, the limits and deductibles can be low and high respectively. This area of insurance is beyond the scope of this article.
For more information and details Cyber, Website, and Media Liability Policies, please click HERE.
We will be pleased to speak with you personally. Give Peter Green Insurance Agency a call at 714-258-2800 for advice and insurance coverage for your particular business.