No one is safe from cyber threats. It doesn’t matter what industry you’re in, your organization is at risk. Some industries are especially hot targets because of the nature of the data in their care. And the types of risk may vary from one sector to another.
Small Business Is The Ultimate Low Hanging Fruit
If your organization maintains customer / client data in almost ANY field, you’re among the top targets for cybercriminals. That’s because you may have some of the most valuable and sensitive data possible.
Consider these common but frightening risks experienced by “Small Business”:
»»Breaches of client / customer data: A cyber incident could compromise the client records stored in your electronic system.
»»Lost or stolen devices: These days staff typically can access a lot of client / customer data, and if there’s a theft involving their phones, computers, or tablets, that could compromise data privacy. The resulting lawsuits could be downright unhealthy to your business.
»»Business interruption: Depending on the nature of the cyber incident, your business may be forced to shut down for some period of time, which could mean a loss of income.
And if malware interferes with your data backup, you could have a tough time restoring client records and getting your operation up and running quickly.
»»Compromised payment information: In any industry, a successful phishing attack could allow a cybercriminal to initiate fraudulent transfers of funds.
What can cyber insurance do to mitigate these risks?
To begin with, it can cover expenses related to recovering from an incident, notifying clients/customers , and it may cover related regulatory penalties.
It can cover the costs of breach investigation and mitigate reputation damage costs. It can address the costs of business interruption and also help cover financial losses and expenses related to fraudulent activities.
As a business owner you are aware of the risks. You should review a quote and make a decision regarding this coverage.
You can E Mail us for a short form NON BINDING application for quote Completing the short form does NOT obligate you to buy any insurance, but I can’t do anything without the application.
PJ