As technology continues to become more and more important not just in our personal lives but in the world of business as well, it’s necessary to protect our data as much as physical assets within offices. But for those that aren’t super tech-savvy, this can be easier said than done.
With cyber crime costing companies millions of dollars with each breach, cyber security is of utmost importance when you hold sensitive data. Depending on what that data is and who provided it, you could isolate your customers and drive away business should something bad happen. If you keep records of social security or credit card numbers, you want your cyber security to be top class to avoid being liable if anyone else gets a hold of it.
So should you purchase cyber crime insurance? The answer is probably less. While not required, it’s a good idea if you are in charge of collecting any personal information. Here are a couple different components of cyber crime insurance coverage:
Crisis Management: When something causes systems to crash or data to be corrupted, this can help pay to get everything fixed right away.
Business Interruption: If cyber crime shuts down your business temporarily, lost income coverage can help.
Cyber Extortion: If someone is trying to blackmail your small business, this type of cyber crime insurance can help you pay the costs of tracking down those threatening you.
If you’re often dealing with personal information, you’ll definitely want to purchase cyber crime insurance to ensure the success of your business and the peace of mind of your customers. Keeping their information secure is definitely important if you want them to continue to work with you.
The best way to find out more about cyber crime insurance is to consult an insurance agent who can provide plenty of options for coverage. To learn more about cyber crime insurance, schedule a consultation with Peter Green by calling (714) 258-2800 or get a free quote today.