No matter how many employees your business has, the amount of assets it owns or any other measures by which you gauge its size, it can benefit from a risk management strategy that includes coverage for data breaches. A 2016 survey from IBM revealed that most businesses lost an average of $4 million per security breach. That’s nothing to sneeze at, and underscores that companies of all sizes need this kind of coverage. If you’re worried about finding affordable cyber security insurance in Carmel, here’s a few things to keep in mind.
Cyber Liability Insurance Can Be Affordable
While cyber liability coverage can be tooled to shield you against risks in the millions or even billions of dollars, that doesn’t mean it’s out of reach for your small business. Consult with your agent, and make sure he or she has a comprehensive understanding of your business. Most packages include liability for privacy and security breaches, costs associated with these losses, asset replacement, legal expenses and even business interruption expenses. Your agent can tool your policies to fit your needs and budget.
Doing business without risk management against losses from data security issues is unwise, and cyber security insurance in Carmel is easier to obtain than you think. An independent insurance agency that represents many companies gives you a wide variety of options from which to choose.