Insurance Protection for Cyber Breaches
While computers have helped to make owning and running a business much easier and more efficient, it can also open the door to data breaches and cyber attacks. No matter how small your business is you are still vulnerable to a breach. Knowing how to protect your business from any cyber attacks or breaches will help to ensure that your business and your client’s personal information stays safe.
Most small businesses do not have the resources that are available to large corporations to deal with a data breach, which can make them more vulnerable. The cost of dealing with a cyber attack can be much more than many small business can afford, since the cost comes from not only the breach itself but also from the cost of lost business after customers lose confidence in the company.
While most people think that cyber breaches only come from cyber criminals and hackers, they can also be caused by a simple accident within the company. If an employee accidently leaves their laptop with sensitive information in a public area, the information can easily be stolen.
Typical data breach insurance will provide coverage for two different situations, including:
- Response expenses – which will provide coverage for any costs that are directly related to the breach. These costs can include notifying customers of the breach, or credit-monitoring services for any clients who were affected.
- Third party expenses – this provides coverage for any costs related to the legal liability of the breach, including any lawsuits by customers after the breach.
Contact the insurance professionals at Aimpro Insurance in Phoenix, Arizona for all of your business insurance needs. We will work with you to ensure that you have the most comprehensive coverage, all at the right price.