As a modern day business owner, you’ve likely felt the push to become more web-involved. The Internet seems to be where businesses are concentrating efforts, whether they involve revamping your website to keep up with the competition or creating social media accounts to attract a new audience. Of course, charting a new business course presents new risks. Navigating the Internet can be difficult enough when dealing with multiple accounts, email marketing and search engine optimization, but you’re also responsible for protecting the information that you store there. Cyber liability insurance may be the answer.
We can help you analyze your risk factors and suggest a policy that works for you. Whether you need cyber risk insurance or other business coverage, your agent can help you review your options and compare price quotes. Independent agents are concerned with your company’s well-being and dedicated to quality customer service.
Contrary to popular belief, nearly all businesses are susceptible to a cyber attack and your general liability policy may not cover the associated risks, which include loss of control over sensitive customer data.
To understand what protection cyber risk insurance provides, you must first understand the risk you face as a business. Cyber attacks don’t necessarily occur in the ether of Internet. Cyber attacks can also include computer hardware problems, communication media errors, system backup and operating system errors and even errors and fraud involving internal people like system administrators.
A company can face three common types of cyber risks:
No matter what kind of cyber attack you experience, the consequences of an attack can be expensive. In addition to retrieving information and establishing new cyber protocols, many companies have to perform clean-up efforts with a customer base. Cyber liability insurance can help with each step of recovery. (Source: TrustedChoice.com)
- Natural: The most common errors and losses result from severe weather. For example, a lightning strike or power surge can severely damage or destroy an entire database.
- Human error: These unintentional acts can involve something as simple as leaving a laptop that has access to patient medical records, at the airport.
- Intentional: This involves illegal criminal activity and can occur outside the organization, by hackers or criminals, or inside the organization.
Contact us for a San Francisco cyber liability insurance quote at 415-512-2100.