Computers can help your small business run efficiently. With instant access to important information, computers will allow you to be much more productive. Unfortunately, using computers can also open the door to a cyber-attack. Investing in the right cyber risk insurance policy will help keep your business safe from any data breach.
A cyber risk insurance policy will provide coverage options, including:
- Notification costs – most states require businesses to notify any affected party that their personal information may be compromised after a data breach. The cost to notify all customers that their information was compromised can add up fast, and can take hours of extra work.
- Credit monitoring costs – one of the best ways to rebuild your reputation after a breach and gain back the customer’s trust is to pay for a credit monitoring service to help your client’s feel safer. Depending on how many people were affected by the breach, you may be required to offer credit-monitoring services.
- Negotiation – if you have to deal with a cyber extortionist who threatens to delete important data unless they are paid a ransom, a cyber risk insurance policy will provide coverage for the negotiation costs.
- Security repairs – figuring out how the breach happened in the first place will help to ensure that it never happens again. A cyber risk insurance policy will cover the cost to hire an expert to repair your IT security issues.
Contact the insurance professionals at DG&M Agency in Rochester, New York for all of your business insurance needs. As an independent insurance company, we will work with you to ensure that your business is protected by the right amount of insurance coverage, all at the right price to fit your budget.