If you own a business, large or small, it is always important to know that you have the right protections in place for all types of scenarios. If you haven’t yet added cyber liability insurance to your business insurance coverage, there are a lot of good reasons to do so. Furthermore, not all cyber liability insurance coverage is the same, so choosing wisely may take some investigation to truly get the protections you need.
What Are the Benefits of Cyber Liability Insurance for My Business?
- Having coverage from all sides, including your business, your customers, and your reputation
- Receiving risk management advice that will give you confidence your business has the right protections in place, or what to do if the worst-case scenario occurs
- Defense and penalties coverage if your customers are affected by a data breach
- Access to crisis management experts who can guide you through each stage of data breach aftermath
What Are Some Important Questions to Ask When Looking at Cyber Liability Insurance?
- What kinds of breach response services are available to me?
- Will my cyber liability insurance cover the loss of income and expenses associated with a data breach?
- Will I have coverage for any fines and penalties issued via the payment card industry?
- Is there help for handling the media and communications as it pertains to a data breach scenario?
- Is there anyone who can help with data restoration or forensics research on my computer systems if I need to go to court?
Keep in mind that this insurance mitigates risk in the event of a breach, but it does not cover your data. In other words, just because you have insurance, that doesn’t mean you don’t have to secure your servers, data, hard drives, computers, etc.
At Noble Insurance, we are here to help when you need to determine the best insurance coverage options for your business. We work with Padlock to provide comprehensive cyber liability insurance for a variety of different businesses. Reach out to us today to add this important coverage to your business insurance policy.