With the rise of the use of technology today, many businesses are storing customer information online. Though it is convenient, it comes with a price. Cyber liability insurance is a great, viable option for small businesses to consider in protecting themselves should they face any claims concerning privacy or network security. Below are the top five reasons to consider it.
- You Are Responsible – Even if you utilize a third party storage system, you are most likely still liable should any private information be hacked or stolen.
- A General Policy Does Not Cut It – Most general liability plans exclude loss due to the internet. Therefore, you are left uncovered in this arena.
- Provide Risk Management – As a small business you do not have the same amount of resources to devote to a risk management team. This liability plan provides that buffer.
- Excellent Coverage – A common cyber liability policy provides an array of coverage far greater than you would imagine. From various privacy and media breaches to extortion protection, you would be fully covered with one of these plans.
- Its Not as Expensive as You Might Think – There are a number of different plans to fit various business needs and price brackets.
Though you hope not to need it, having a quality cyber liability insurance plan in place can help to fully protect your business livelihood. Contact your local provider today.