Cyber Liability Insurance
Massive shake-ups due to a cyber breach or hack fill our news on a daily basis. From spyware and the latest virus to corporate espionage and sabotage, cyber theft and security are at the forefront of the corporate brain.
News flash: small businesses are just as at risk for cyberattacks as large corporations. According to a report by Keeper Security and the Ponemon Institute, 50% of small businesses have been breached in the past 12 months. Be prepared for a breach at all times.
Cyber insurance is described as:
“Cyber and privacy policies cover a business’ liability for a data breach in which the firm’s customers’ personal information, such as Social Security or credit card numbers, is exposed or stolen by a hacker or other criminal who has gained access to the firm’s electronic network.”
The bleeding continues long after the breach. A business that is not covered for the liability will incur the public relations expense of repairing reputational damage if they can’t afford to make things right by their clients.
Does your business work with clients’ personal information? You may not be thinking about this type of coverage, but we sure are – and we’ll be more than happy to go over the basics so you can decide whether cyber coverage is appropriate for your company. We’ll offer tailor-made coverage to meet your budget and risk-exposure levels.
At Solace Insurance our business is protecting your business. Rest insured.
Call a knowledgeable Solace business insurance advisor today at 1.800.915.0969