Have You Addressed Your Cyber Risk?
Just a couple of decades ago, cyber liability insurance sounded like something straight out of a science fiction movie. Today, however, it is a very real coverage offering very crucial protection. As technology advances more and more quickly, it becomes more and more important for today’s businesses to protect against their digital risks. The good news is that cyber liability insurance can do just that. Here is a look at how to choose the right coverage to minimize your cyber risk.
- Understand Your Existing Coverage: It will be incredibly challenging to get the right coverage for your business if you do not know where your existing coverage ends. Talk to your insurer to find out where your cyber risk is protected and where you need another policy to protect your business.
- Understand Your Needs: Take a look at the data your business has collected. Do you have personal information, including billing information, social security numbers, or other sensitive data? If so, it is important you talk to a cyber liability expert who can help you find the right coverage to protect the liability that comes with storing this type of information.
- Understand Where Protection Should Extend: If you are a small or mid-sized business, you may outsource your IT needs to ensure they are handled by an equipped staff. If you do, it is important that your cyber liability coverage can extend to this third-party vendor. Talk to an insurance expert to learn how to best protect your business and your vendor.
Are you carrying cyber liability coverage as part of your business insurance portfolio? If you want to talk to an expert about how to protect your business against the risks you face in our digital age, contact DG&M Agency. Serving Rochester and the surrounding New York area, we are here to provide you with the right policy.