Dealing With The Threat of a Data Breach

Taking online payments or mobile payments at your business may be much more convenient for your customers. However, it can also put you more at risk for a data breach. The threat of a data breach can mean serious trouble for your business if employee or customer information is stolen from your company.

Companies that were hit by a data breach in 2013 paid more than $200 on average per customer or employee to help deal with identity theft concerns. Investing in data compromise coverage, which can be added to your existing business insurance policies will help to keep your business financially stable after a data breach occurs.

While you may think that data breaches can only come from hackers who purposely gain access to your information, many smaller mistakes can lead to a serious issue. If one of your employees leaves their smartphone at a coffee shop, sensitive information can easily fall into the wrong hands. Even something as simple as throwing away documents that contain sensitive information can lead to a breach.

Data compromise insurance can provide coverage for your business in many different ways, including:

• Providing information materials to employees and customers who were affected by the breach.
• Providing credit monitoring services for anyone who was affected by the breach.
• Covering the cost of any legal fees that are associated with the breach and the aftermath.
• Allowing access to an identity theft help line for employees or customers who had their personal information compromised after the breach.

To ensure that you have the right business insurance coverage, contact the insurance experts at Aimpro Insurance in Phoenix, Arizona. We will work with you to ensure that you have the protection that your business deserves, all at the right price to fit your budget.