You might have heard that cyber insurance is a massively expanding sector of the insurance field, rising in price every day, and becoming more and more necessary for businesses like yours. Your company needs cyber insurance protection, but what does it do for you? How can cyber insurance truly safeguard your business?
Look further to learn how cyber insurance can change the face of your operation and save you many heartaches in the future. Shockingly, only one in 10 Americans are carrying cyber insurance. Remember, cyber insurance premiums might be skyrocketing, but they’re still cheaper than going viral for losing consumer data.
Protecting Against Errant Clicks
If anything comes of these errant clicks, you can file a claim against your cyber insurance policy. (Yes, even your errant clicks.)
Safeguarding Businesses With Outdated Software
Businesses with outdated software leave themselves open to hacking attacks—more-so than others. You should endeavor to update your software as much as you can. Even so, some businesses can’t afford upgraded software, or they are stung by a hacker when their software is most vulnerable (awaiting an await.)
As a result, you need cyber insurance that will help you recover from losses when a hacker gets into the software you use every day—especially if you lose a valuable customer or proprietary data.
Getting Past Bad Passwords
Bad passwords make it easier for hackers to access your network. You can take many steps to improve password usage in the office, but you could still be open to hacking attacks because you use Wi-Fi. Plus, you go to other places with public Wi-Fi—which is not as safe—that could allow hackers to access your network when you return to work.
Filing a claim with your cyber insurance carrier will help you recover from these losses and move forward. Plus, cyber security education and services from our partners at The Liberty Company will help your business set up enhanced protocols for everyone in the building.
Resolving Cyber Attacks and Hacking Events
A cyber insurance policy also allows you to:
- Investigate hacking attacks
- Send notification to affected parties
- Determine what sort of data was lost
Pay for the physical and intangible losses caused by the hacker
For these reasons, you need cyber insurance that will back you up even in the event of a small hacking attack. You might run a business out of your house—where you’re the only employee—but you still need protection. You never want to leave anything to chance where sensitive data is concerned.
Contact Strategic Insurance for More Information on Cyber Insurance
Reach out to our insurance professionals at Strategic Insurance when you need help with cyber insurance and cyber security protocols. We offer a range of services, and market policies to every carrier in the industry, provide business services through our partners at The Liberty Company, and help keep costs down for our clients.