You’ve heard about cyber-attacks in the news- large companies like Target and Home Depot have been the victims of cybercrime, and the numbers continue to grow. What you may not know is that cyber-attacks aren’t just a problem for big businesses. Small businesses are just as vulnerable, and often don’t have the resources to recover from a cyber-attack. That’s where cyber liability insurance comes in. This type of insurance can help protect your business if it falls victim to a cyber-attack.
What is cyber liability insurance?
Cyber insurance is a type of insurance that helps protect businesses from cybercrime. This type of insurance can help cover the costs associated with recovering from a cyber-attack, including the cost of repairing or replacing damaged equipment, hiring forensic professionals to investigate the attack, and paying for legal fees.
A cyber-attack is any type of malicious act that’s carried out online. This can include things like hacking, data theft, and ransomware. Any business that stores or transmits digital information is at risk of a cyber-attack.
How much does insurance cost?
The cost of cyber liability insurance depends on several factors, including the size of your business and how much coverage you need. Small businesses pay about $500 per year for insurance. Larger companies may pay upwards of $20,000 per year or more for cyber-insurance coverage.
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Why do I need insurance?
If your business falls victim to a cyber-attack, you could be facing some serious financial consequences. Cyber insurance can help protect you from these costs. This type of insurance can provide coverage for things like:
– Legal expenses
– Reparations to customers
– Damage to your business’ reputation
Cyber insurance is a vital protection for any small business that relies on digital information. If you’re not sure if this type of insurance is right for you, talk to your independent agent about cyber coverage today.
Is cyber insurance worth it?
Cyber coverage can be a valuable part of your business insurance policy. If cybercrime were to disrupt your operations, damage your reputation, or expose sensitive information about you or your customers, the results could be devastating for any small business. Cyber insurance can help protect you from these financial losses and get you back on track quickly so that you can continue to serve your customers. Cyber insurance is a vital protection for any small business that relies on digital information. If you’re not sure if this type of insurance is right for you, talk to your independent agent about cyber insurance coverage today.
What are the benefits of cyber insurance?
– cyber insurance can help protect your business from financial losses in the event of a cyber attack
– this type of insurance can also help protect your business‘ reputation if it falls victim to a cybercrime
– cyber liability coverage is essential for any small business that relies on digital information.
If you want to discuss options for cyber insurance, please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.