In today's modern world, businesses depend heavily on the internet to run their operations as efficiently as possible. The data your business is in charge of, including personal information, payroll information, account details, and credit card numbers, are all vital business assets that need the highest level of protection. Although many businesses have the notion that data breaches and hacks are problems reserved for large organizations, that could not be further from the truth. The fact is, cyberattacks also target small ventures. A single data breach is capable of costing you thousands of dollars in downtime, recovering data, and legal fees.
Even worse, the breach could cause irreparable damage to your business, and result in you shutting down, emphasizing the importance of cyber liability insurance. At Johnson Pohlmann, we're an independent Danville insurance agency that offers insurance against various cyber crimes that have become rampant.
Crimes Cyber Liability Insurance Covers
Cyberattacks have become so prevalent that they have been ranked as one of the top challenges facing businesses today. Our cyber liability insurance protects your venture and gives you peace of mind.
If your business were to suffer a cyberattack, the consequences could be dire. Cyber liability insurance provides a layer of protection to your digital assets, so you do not lose huge amounts of money or make your business halt its operations because of a breach. Cyber liability insurance covers the following security breaches:
- Data breaches after hacking
- Data breaches from employee theft
- Business interruptions in the event of a cyber attack
- Data breaches after losing a memory stick
- Protection against theft of intellectual property following a cyber attack
- Data recovery after a security breach
These are just several examples of what cyber liability insurance covers.
What to Do to Mitigate the Risk of Data Breaches
It's essential to look at potential areas of risk in your business and actions you can take to reduce data breaches. Such actions include:
- Data Encryption - This isn't the same as having passwords. With data encryption, the data can only be accessed using a decryption key. This kind of protection is considered safer than only using passwords.
- Training Staff Regularly - Hacking techniques are evolving all the time. It's, therefore, crucial to keep your team updated on the latest threats to watch out for.
- Staying Updated with Legal Changes - It's vital to always keep up with legal changes. That way, you'll be able to know of any changes that may affect your insurance.
- Securing Portable Working Devices - Ensure that work tablets and laptops are never left unsupervised. This helps minimize the risk of hacking because of losing a memory stick or the device itself.
Cyber Liability Insurance to Give You Peace of Mind
At Johnson Pohlmann, we're a premier Danville insurance agency genuinely invested in making sure your digital assets are protected. That's why we offer the best cyber liability insurance tailored to your needs. To find out the cyber liability insurance options available for your business, get in touch with us today on 859-236-5922.