You might think that your company only needs cyber liability insurance if it’s a high-tech security firm, but nothing could be further from the truth. In fact, SB One Insurance believes that many companies that require this type of insurance don’t actually have it. Are you leaving yourself vulnerable?
Your Business Is Part of the Healthcare Industry
If you are a doctor, run a drug testing facility, or otherwise have access to patients’ health records and medical insurance information, you must have business cyber liability coverage on top of your firewalls and other security measures. Ideally, nobody will ever gain access to your patients’ information. If someone does, liability insurance will help you to handle the situation as quickly and efficiently as possible.
You Have Access to People’s Credit Card Information
Any type of business that deals with people’s credit card information (especially if they store it) should have business cyber liability insurance. This includes restaurants, online shops, boutiques, veterinarians, salons, and any other business that accepts credit card payments. The insurance will protect you in the event that you fall victim to a breach like many large corporations have in recent years.
Cyber liability coverage helps small and large businesses alike in a number of ways. Purchasing a policy allows you to cover the cost of investigations, notifying customers of the problem, helping with identity recovery, and restoring compromised data, among other things. Consider a policy now if you don’t already have one.