Cyber insurance is a must for companies large and small
July 13, 2018
Any business can be a target for cyber crime, large or small. Hackers can steal financial information, employee records, or even customer records. In a world where much of our financial dealings are on the internet, cybercrime has become a much more terrifying issue. This is why all businesses need to have a cyber insurance policy.
If you think just because your business is small that you’re not a target, you’d be, unfortunately, mistaken. Small businesses can sometimes be a target, especially since they don’t always invest in the most stringent cyber security like the larger companies.
While cyber insurance won’t stop hackers from getting your information, it can be a huge asset when recovery is needed. See, what cyber insurance does is helps to ensure that you don’t go under from the cyber attack. It helps you recoup financial losses, because there are, of course, expenses associated with cyber attacks. Typically, some of these expenses are reimbursable, including investigating and accessing the damage that’s occurred, business losses, contacting customers and any others affected by the problem as well as offering credit monitoring and legal expenses.
Cyber insurance is a growing and changing business as we continue to adapt to the current climate of cyber attacks. But, it is a must for any business, because large or small, you can be a target. Contact us to learn more!