If your business makes use of the internet for storing your clients’ or employees’ personal data, financial records, or important company data, your company can benefit from cyber insurance. Cyber insurance can protect your business against data breaches, computer viruses, and other types of cyberattacks. If a breach leads to a lawsuit, cyber insurance will cover your legal costs. Here’s how cyber insurance from The Budde Agency Inc. works to protect your Amityville, NY business.
What Cyber Insurance Covers
Cyber liability insurance protects your company from cyber attacks by covering the immediate costs of a breach which may include:
- Informing customers and employees about the breach
- Restoring the personal identities of customers affected by the attack
- Recovering company data that was stolen
- Repairing costs of damaged software
- Paying for marketing costs to restore your company’s reputation
- Covering loss of revenue while your company is recuperating from the attack
- Payment of extortion money to hackers who threaten your system or data
If your company is sued for damages by customers whose personal information was compromised, cyber insurance will help cover your legal expenses and settlement costs.
Who Can Benefit from Cyber Insurance Coverage?
Any business that stores company or customer data online or uses the Internet for financial transactions can benefit from the protection that cyber insurance has to offer. Cyber insurance provides an affordable means for small businesses to protect themselves against cyber attacks. By purchasing cyber coverage, your company will have the financial means to respond quickly and effectively to cyber breaches and carry on.
By customizing your cyber insurance policy, your small business can obtain the essential protection it needs to recover from cyber breaches. To learn more about cyber insurance coverage and costs, call or visit The Budde Agency Inc. in Amityville, NY today.