It’s no secret that working in today’s business climate involves completing a significant amount of transactions through the use of digital information. Thousands and thousands of companies use software to manage their human resources functions, and this means storing sensitive data. Automatic data processing insurance is one way that a company can protect itself from the risk of cyber attacks that target employee financial information to exploit it for profit.
Coverage For Your Company’s Risks
Every business has its own unique needs when it comes to protecting itself against the risks of cyber attacks. Taking out insurance is one of the most important steps businesses large and small should take in order to protect sensitive information stored in digital systems. The right policy can protect a company from legal liability should a lawsuit result from a data breach. It can also help cover expenses incurred as a result of financial losses due to an interruption in business or from having to spend on crisis management and public relations services to restore the company’s image.
Data Is Never Totally Safe
There’s never a foolproof system, and even the most protected software used to manage human resources functions like payroll processing can be vulnerable to a breach.
Even if your company has taken all the necessary precautions to safeguard its data, automatic data processing insurance shouldn’t be overlooked.