Does My Small Business Need Cyber Liability Coverage?
More than half of all small businesses experience a cyberattack or data breach in any given year. Despite the high cost and prevalence of cybercrime, most small businesses aren’t taking steps to reduce their risk exposure. A cyberattack can happen at any time and can be as simple as an employee opening a malicious email attachment or a computer that is unintentionally unlocked and unattended. The resulting cybersecurity breach can cause a lot of damage to a company and their reputation.
Cyber Liability coverage provides support that can help a company recover after a cyberattack. This can include coverage for legal services, public relations support, credit monitoring and identity theft restoration services for customers, privacy breach response costs, and certain fines or penalties.
No one wants to imagine their business experiencing a cybersecurity breach. However, if it does happen, Cyber Liability coverage can help make the recovery process go smoothly.
To learn more about Cyber Liability coverage, contact your independent insurance agent.
Source: Net Security
