The internet has changed how business is done, and with the proliferation of connected devices and locations, the threats of cyber security issues have only grown. While making a client’s information accessible to the client is important, keeping it secure is also important, and making sure that the person who is remotely accessing that information is really that person is even more important. This is where having the right cyber insurance policy in place to help protect your business is critical, and our team at Kingsbury Insurance Agency can help you review and obtain insurance protection for your business.
What Does Cyber Insurance Usually Cover?
This is perhaps the most common question that we receive from businesses that are looking to get cyber insurance. A close second is wondering just how important having a cyber insurance policy really is. The answer to the second question is ‘very important’, and it only gets more important the more sensitive data you have accessible via the internet.
In general, cyber insurance covers costs associated with data breaches and cyber-attacks on your business. Some of these costs can include:
- lost income from the cyber event
- costs associated with notifying customers affected by the data breach
- costs associated with the recovery of the compromised data
- and other related costs
As you might imagine, these costs can quickly add up, so having cyber insurance in place can help to keep your business operational rather than having to fold.
- covering the costs for forensic investigations
- cyber extortion
- business interruption
- litigation expenses
- employee training tools and expenses
- and more.
Cyber Threats Continue to Impact Business
As reports continue to show year after year, cyber threats remain a top concern for businesses all over the country. This has only grown in importance as the workforce has transitioned to more remote work than ever before. While you might not hear about it much, laptops, cell phones, and other technology devices routinely end up in the wrong hands and the access they provide to sensitive information can be hugely damaging to businesses. Cyber insurance from Kingsbury Insurance Agency can help to mitigate the costs associated with a successful breach of your data. Contact our team today to learn more.