Cyber Threats Are Rising – Are You Increasing Business Insurance?

Cyber threats are increasingly targeting small companies. Retailers, service providers, and even local restaurants are at risk.

Cyber threats occur when a thief gains access to personal information of a customer or employee. This exposes the individual to potential financial loss. Businesses need to protect this information.

Yet, that is becoming more difficult. Advanced methods for cyber theft are numerous. And, ultimately, this presents a liability concern for the business. With the right business insurance, companies can reduce some of that risk.

What Does Your Coverage Offer?

Consider your current plan. Does it offer coverage for cyber threats? Some business liability insurance will. The amount of general liability insurance may have limits. Some plans just do not offer enough value in this way to cover all of the risks. Consider adding another layer of protection. a close up of a computer keyboard

Cyber Crime Insurance Helps

The use of cyber crime insurance can help. This type of insurance provides a wide range of support. It can help a company to look for possible risks before a threat occurs. Some insurers provide guidance on security risks.

When an event occurs, the insurance springs to action. The agent can help the business to handle all aspects of the situation. This includes notifying those involved. It includes providing coverage to help the victims to monitor their personal information for a year. It can also help with reputation management for the business. It aids in legal matters. It can pay claims and make settlements. All of these elements are important risks for every business.

Recognize Your Risk

Small businesses are specifically at risk. This includes retail shops, hotels, doctor's offices, corner shops, and much more. Many times, these small companies lack extensive security measures. That means they are vulnerable. Cyber criminals know this. It leads to them taking specific steps to target these locations. With the information they have, they can cause significant damage to many people. Any customer or employee could be at risk.

All businesses need to increase the amount of insurance they have to protect against this type of risk. Doing so does not have to be expensive. The right type of business insurance can help minimize the risks. It also gives customers peace of mind knowing the company is active in taking precautions. Take the time to speak to your agent about your policy. Look for a more extensive plan when necessary.

We’ve got you covered. Call CCI Insurance Services at 530-458-8831 to get a fast, free cyber insurance policy quote.

No Comments