Getting hacked isn’t just a hassle. It also poses a potentially huge and unexpected cost to your business. The cost of a data breach and the reputational damage to your business after a breach occurs can be devastating. Businesses need a well-designed insurance policy to provide the protection you need, and breach management expertise to ensure the breach is managed properly and in accordance with regulatory requirements.
As part of your Cyber Risk Insurance policy with Carnahan Insurance Agency, we also provide access to a series of cybersecurity awareness training resources. Below are two examples of the quality videos you can expect from the training module.
Data breaches occur every day. Hacking incidents are the most recognizable and expensive cause of data loss, and over the last few years have become the most common.
No matter the sophistication of the security system, there is little that can be done to eliminate the risk of human error. A common, accidental breach is a real business risk worth considering today.
Cyber risk insurance is a specialist policy that’s customized to cover many of the risks your business faces from an information breach–and even covers some risks you might not have thought of.
Coverage may include:
A number of action steps must be taken once your business has experienced a cyber hack. These steps include:
All of these necessary action steps can lead to a hefty, unexpected cost for your business. Not to mention, dealing with the aftermath of a cyber hack could close your business temporarily, which could result in a loss of income.
A cyber risk insurance policy can help you to cover the expenses associated with a cyber hack. Additionally, some commercial cyber liability policies cover loss of business while your systems are compromised or unavailable. You can even get coverage against inadvertently breaching somebody else’s copyright.
In addition to protecting your business against cyber risks financially, obtaining cyber liability insurance can also help reduce potential risks, because insurers will talk through your current cyber-defenses and identify potential weaknesses that you need to plug.
Want to obtain a cyber risk insurance policy for your business? Reach out. We’re ready to help!