Keep your business protected from the liabilities associated with an increase in cyber related crimes.
Cyber Insurance protects you from data breaches and other cyber crimes are becoming increasingly more common. The recent precedent for these types of issues includes major fines and legal fees — not to mention headaches and missed opportunity. Just in the past few years a major discount retail chain, one of the nation’s largest banks, a well-known health insurer, an entertainment network, and the federal government have fallen victim to major cyber crime that has created billions in damages.
However, it’s not just the largest organizations that are being targeted. Small businesses are becoming an even more valuable target to cyber crimes because they are easier targets with less sophisticated security features. These security related events can damage more than your computer systems. They can damage your reputation and put your customers and/or employees at risk.
This is where cyber insurance can be a smart precaution for any business.
What is cyber insurance?
Cyber insurance generally covers your business’ liability for a data breach involving sensitive customer information, such as Social Security numbers, credit card numbers, account numbers, driver’s license numbers and health records.
Won’t my general liability policy cover cyber liability?
General liability insurance covers bodily injuries and property damage resulting from your products, services or operations. Cyber insurance is often excluded from a general liability policy.
What Does Cyber Insurance Cover?
- Besides legal fees and expenses, cyber insurance typically helps with:
- Notifying customers about a data breach
- Restoring personal identities of affected customers
- Recovering compromised data
- Repairing damaged computer systems
- Most states require companies to notify customers of a data breach involving personally identifiable information – a process that can be very expensive. And even though most states don’t require companies to offer free credit monitoring following a breach, such a gesture goes a long way with public relations.
Getting Started with Cyber Insurance
Let Carroll Insurance be your trusted advisor in getting covered for cyber related crimes. Our advisors are ready to help you navigate through the noise and find a common-sense policy that is appropriate for your situation. To get started, please call 1-281-656-3000 or request a quote via the button below. One of our agents will connect with you shortly.