You’ve insured your business down to the trim on the doors and the nails in the shelves. You have the best security system money can buy. You’re covered for natural disasters, robberies, and even the elusive “acts of god.” You’re convinced there’s no way anything could possibly go wrong. And then a hacker invades your web space and changes everything. Although you may not realize it, your company’s web platforms are an incredibly vulnerable part of your business. Cyber liability insurance ensures that you’re covered even if your break-in occurs only in the intangible world of the web.
Cover the Cost of the Unexpected
Cyber liability insurance is a specialized insurance type designed to help you cover the cost of correcting a digital breach. While you may think the costs will be minimal – some additional code in your firewall, perhaps – the hidden costs of an online breach are far greater. There are charges associated with notifying customers and employees of the breach to allow them to cancel credit cards or close bank accounts if they desire. Often if the breach is your responsibility, you’ll be required to cover the cost of credit monitoring for all customers involved. Both of these costs should be covered by your cyber insurance. Loss of revenue due to interrupted business should also be included.
Don’t let your most vulnerable backdoor end in loss. Cyber liability insurance keeps your business protected in the event of a digital disaster.