Nearly all businesses these days are involved in E-Commerce in some way, whether it be direct online retailing, processing client payments for services, or simply maintaining a client database. With each passing year, the number of data breaches grows exponentially and it is important to protect yourself from harm in the event that your customer's personal data becomes exposed, like their social security numbers, dates of birth, or payment information. Nearly every day we see security breaches on all levels of business, from mega companies like Amazon and Home Depot, to smaller retail and manufacturing including gas stations and small healthcare offices. In today's climate, it is vitally important that you protect yourself from bearing the brunt of any losses due to hackers or data loss.
Cyber Liability Insurance protects small businesses from damages and expenses related to data breaches and other digital crimes. This coverage is often called Data Breach Insurance or Cyber Risk Insurance. If a virus infects your computer or a hacker steals your customers’ data, your Cyber Liability policy can cover the costs of damage control: alerting your customers, paying for credit monitoring services, defending your business in any lawsuits, and even funding good-faith PR campaigns to restore people’s confidence in your business.
Some of the areas where you will want to cover yourself against cyber crime and data breach problems are:
AJS Insurance Services works to stay on the cutting edge in providing Cyber Liability Coverage for our clients. Contact us today to undergo an assessment of your potential risks and needs, and we can put together a comprehensive Cyber Liability Coverage package to help keep you and your clients and customers safe.