Does Your Small Business Need Cyber Insurance?

Does Your Small Business Need Cyber Insurance?How your business can benefit from a cyber liability insurance policy.

Cyber liability is a hot topic, with large amounts of cyber attacks making the news. With more and more businesses waking up to the daunting reality of cybercrime, cyber insurance is becoming a must-have insurance policy. So, does your company need cyber insurance? Businesses of all sizes can be attacked, and for a smaller firm, a cyber attack can be a disaster too large to recover from. Being protected is of vast importance.

What is cyber liability insurance?

Cyber liability insurance covers first- and third-party risks associated with doing business online. It covers privacy issues, Internet-related instances of intellectual property infringement, viruses, and other issues that might be passed along via internet connections.

Who needs cyber insurance?

It’s not just big businesses that are at risk. Smaller companies are often targeted due to their lack of security systems and a whole host of sensitive personal information on file. In truth, anyone that hosts a website that interacts with the public needs cyber insurance. If you conduct business online, or if you store customer and vendor information digitally, you should consider cyber liability insurance.

I already have business liability insurance. I’m covered, right?

No. Standard business liability policies typically do not cover cyber liability due to the immense risk all on its own. However, it is possible that the same insurance company that you have your business liability insurance with also offers cyber liability coverage.

Luckily, Perry & Carroll in Elmira, New York can help! Contact us today to learn more about our protected insurance policies that will suit your business.