Every organization uses technology daily. Every organization stores some form of valuable data: customer records, payment information, patents, designs, blueprints, confidential documents, and so on. As the amount of valuable data in storage increases, the incentive for criminals to steal this information rises as well.
As a business owner, you are legally responsible for any information obtained from your systems or network about your customers, clients, and employees.
A cybersecurity insurance policy can do the following:
- Cover damages associated with personally-identifiable information exposure
- Provide computer security services in the event of a breach
- Legal notifications – which are required by law
- Set up a call center for victims
- Credit monitoring and restoration services for victims
- Public relations crisis management
- A good policy will send a “Breach Coach” to your office and manage all of this with you
- These policies can also cover business interruption, business equipment, cyber extortion, and data loss
60% of small businesses that suffer a cyber attack are out of business in six months.
Cybersecurity liability insurance is designed to protect businesses from the financial consequences of data breaches and is a necessity in today’s business environment.
Dunham Insurance is a leader in cybersecurity insurance and can customize a comprehensive policy for your specific business needs. Contact us today for more information about coverage and a consultation..