Experts estimate that 35 percent of American businesses have lost data as a result of cyber attacks in the last 10 years. Your business could be next. You need to protect yourself from the liability claims that will inevitably result from these malicious attacks and the best way to do this is by having cyber liability coverage.
How Serious is This?
You may think that you’re already spending enough to protect your systems and network from threats. You’re using the latest technology and employing the most expert professionals to make sure you’re secure. But you may be fooling yourself by underestimating the dedication and maliciousness of those who hack their way into systems around the globe. No matter how large or small, no organization is completely invulnerable.
It’s serious, all right, and you need cyber liability coverage to protect yourself from the claims that will arise from a cyber attack: misuse of personal information, business interruption, credit damages and many others.
The Coverage You Need
You need two kinds of insurance to provide a comprehensive approach: first-party and third-party. First-party covers expenses having to do with keeping the business going after an attack by directly addressing customer needs. Third-party covers claims from customers that stem from loss or misuse of their data.
Don’t let your business be a double victim by not having the cyber liability coverage you need to respond to the aftermath of a cyber attack. Contact your insurance company today.