Cybersecurity Insurance: What is it & Does my Business need it?

cybersecurity insurance

As a small business owner, you are exposed to many forms of insurance. From property insurance to workers’ compensation insurance, there’s no shortage of ways you can protect your business from accidents and damage to your property and assets.

However, you may still be left exposed to serious financial loss if you are not protecting the Internet side of your business from cyber risks.

With the constant threat of cybercriminals, a single data breach can cost you tens of thousands of dollars (if not more). This is why it is so important to look further into what is known as business cyber insurance.

It’s a new term, but with your growing reliance on the Internet, it is essential to properly educate yourself on business cyber insurance and how it can protect you and your business.

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Cybersecurity Insurance to Protect Your Data

cybersecurity insurance

Cybersecurity is a major concern for online businesses, especially small and medium ones. However, you can take out reliable cybersecurity insurance to prepare for these unexpected attacks. With insurance, you can recover any losses that you may have in the event of a cyber-attack by having this coverage.

Cyberattacks are becoming more common as cybercriminals continue to innovate. They are constantly innovating new ways to outstrip security software that IT companies have created. As a business owner, you must be vigilant and ensure that your data and network are safe. Do you have the most up-to-date cybersecurity technology in your business? You probably don’t have time for such things if you’re like most business people. (more…)

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