Streetsmart insurance Blog
Like many business owners, you rely on computers to run your company’s day to day operations. Although most of your programs will contain public information, a few will use your clients’ private information. Credit cards, addresses, and social security numbers could hurt your customers if they end up in the wrong hands, and if their information is compromised you could be liable for the damage it causes.
Data breach insurance (also known as cyber liability insurance) can protect your business if you are the victim of a cyber attack. It is designed for businesses who have sensitive customer information on their computers, and recognize the risk that many organizations face due to mismanagement, hackers, and email scams. Large businesses can add data breach insurance coverage to their general liability insurance policy, and small business can include data breach insurance coverage on their business owner’s insurance policy.
How Does Data Breach Insurance Work?
Before A Data Breach: Many insurance companies provide support and training for small businesses with data breach insurance coverage. Their employees are experts in cyber security, and they can help you protect your computer system while you identify potential risks to your customer information.
During A Data Breach: If your computer system is compromised, data breach insurance coverage will deal with immediate threats to your company’s security. Your insurance company will look at your computers to find the systems and information that were compromised in the attack, and their representatives will contact every customer who may have been affected.
After A Data Breach: Whether they’re handling PR or offering credit protection to your customers, data breach insurance coverage will help you recover from a serious cyber attack. If your customers sue after their data has been compromised, data breach insurance coverage will cover the cost of your legal defense while you get back on your feet.
Street Smart Insurance is committed to providing affordable coverage.
Whether you are looking for your first business owner’s policy or you are shopping for a better price, our agents are ready to help.