No matter the size or type of your business, the effects of a Cyber Crime can be huge financially. Hackers target everyone and Cyber Crime is now a major concern across all businesses, and it should be.
Traveler’s Insurance reports that since 2015, large business victims have increased by 73%, while medium business victims have increased by 100% and small business by 200%. It's not a question of if your business will be a victim, but rather when. That said, only 51% of companies have purchased Cyber Insurance.
Cyber Liability Insurance is designed to cover the costs associated with data breaches and cyber-attacks on your business. It can include such things as lost income due to a cyber event, costs associated with notifying customers affected by a breach, costs for recovering compromised data and costs for repairing damaged computer systems.
Some policies even provide Crisis Management coverage for the costs incurred for marketing and public relations to protect a businesses’ reputation following a data breach.
Blue Line Insurance Agency offers customized insurance solutions depending on your business’ level of risk, with coverage options available to address:
- Prior Acts Coverage
- Reputation Damage Expense
- Forensic Specialist Expenses
- Including both Paper and Electronic Data
- Liability Coverage with the same Company
- Loss Control & Mitigation Services
- Business Interruption
- PCI Coverage
In addition to Cyber Liability Insurance coverage, your best defense is to stay informed and learn from, albeit scary, useful cybersecurity statistics and facts.
Understanding cyber threats, as well as the coverage available to protect your business, is something that should be important to every person in every business across all industries. We would love to discuss your Cyber Insurance needs with you today.
For a FREE, no-obligation review of your Cyber Liability Insurance, contact Blue Line Insurance Agency, at 518-523-4321 or visit https://bluelineagency.com/business-insurance/cyber-liability-insurance. Our professional agents can assist you in finding the right car insurance you need.