Do not get caught without Cyber Protection Insurance.
If you store customer data on a computer such as Name, Address, Phone Numbers, Email and other personal identifying information (PII) you could be responsible for thousands of dollars in providing credit monitoring services, or responding to a lawsuit for failure to secure Personal Identifying Information (PII).
Always Expect Someone Is Looking
Even if you rely on a third party company to store customer information on a server responsible for securing this data, or if you keep files on a personal computer, or just rely on a filing cabinet, the buck stops with you.
Cyber-attacks are so common now, that it is not uncommon to receive multiple offers a year to monitor your credit. Or worst yet, is having your computer system hacked and seized for control with a ransomware fee.
Cyber Protection Insurance provides a level of coverage that your average Business Owners Policy does not cover. If your agent has not spoken to you about adding this coverage, its worth a phone call to examine the risks and how much it would take to transfer this risk to an insurance company
Cyber Protection is not that expensive and with this kind of coverage, you can get back up and running with a phone call to get a team in place. Lawyers will need to draft a letter to customers; stolen equipment will need to be replaced or worst yet, you may be in litigation if it was a third party who was responsible for your customer data.
Businesses today run a business out of the home and rely on personal insurance policies to cover their losses. However, the average Business Owners Policy (BOP) runs about $2200 a year and typically only covers you for General Liability, Property Coverage and Business Interruptions, not Cyber Attacks.
If you have a Cyber claim from someone breaking into your home, business location, or stealing a computer from your car, unless you have cyber protection clauses you will be responsible: Homeowners, auto insurance and personal insurance policies do not protect you for cyber Insurance claims with a business claim.
Call Today for a Cyber Protection Plan.