- March 6, 2015
- Posted by: Aimpro Insurance
- Category: Article Archives
Protection for Data Breaches
It seems like almost every week there is another story about a company falling victim to a data breach. If you own a small company, you may think that you are not at risk, since you do not have nearly as much personal information stored up as large corporations. However, small businesses are even more vulnerable to cyber attacks compared to large corporations. Investing in the right business insurance policies can help to ensure that your information stays safe.
Small businesses are more vulnerable to data breaches since they do not have the recourse of finances needed to properly deal with the effects of a data breach. The cost of dealing with a data breach can easily reach into the high thousands for small businesses, which can be financially devastating.
Investing in a data breach insurance policy will help to ensure that your small business is not ruined due to a data breach. A data breach insurance policy will provide coverage for:
- Third party expenses – any expenses that are related to the legal liability of the breach. If a customer sues you after a breach because their personal information was compromised, a data breach insurance policy will provide coverage for settlement and legal costs.
- Response expenses – any expenses that are directly related to how your business handles the breach will be covered by the policy. These can be costs such as providing credit monitoring services to help track credit reports of affected customers or notifying all your customers that their personal information may be compromised.
Contact the insurance experts at Aimpro Insurance in Phoenix, Arizona for all your business insurance coverage needs. As an independent insurance company, we will work with you to ensure that you have the right amount of protection, all at the right price to fit your company budget.