What is Cyber Insurance?
The world is changing and as it changes, we need to change with it. The internet has become a primary means of communication and commerce. What was once an online marketplace for goods have now evolved into a virtual cyber world where the currency of choice is information.
With this evolution comes risks and consequences that were not previously present in our physical reality. This video will explore what cyber liability insurance is, why it's necessary, and how you can protect yourself from these new risks by incorporating cyber liability insurance into
your business plan today!
Cyber insurance can protect your small business, and everyone involved. That's because a data breach not only threatens the security of information stored on computers, but it also damages reputation and puts people at risk – so having this kind of protection is wise for any size company.
Cyber insurance protects your business' liability for a data breach involving sensitive customer information, such as Social Security numbers, credit card numbers, account numbers, driver's license number and health records.
But wait, isn’t that covered under my General Liability insurance?
Not really. General liability insurance is an important form of protection for anyone who provides products or services. It can cover injuries to people a damage to property, but cyber insurance often isn’t included in a general policy.
Cyber insurance covers many expenses that result from cyber-attacks. Notifying customers about a data breach, restoring personal identities of affected customers, and recovering compromised data are just some examples!
Do I need Cyber Liability?
You will probably need cyber liability if:
·You use computer/cloud systems to store data.
·You provide software or hardware services to clients.
·You use point-of-sale systems.
·You store customer/patient data, including medical or credit card data.
Hope this video was helpful to you! If you have any questions leave them in the comment
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