08 Jul 5 Reasons You Need Cyber Liability Insurance

Big or small businesses need to be aware of security threats. The web is how we conduct business but it can also be the Wild West. Who owns what information and how it is securely kept is your responsibility.

Although that does sound intimidating, we have a solution to these threats.

Cyber Liability Insurance protects you in case of a cyber attack. Even though this may seem like only a problem for large corporations, hackers look to compromise any information they can, whether it’s associated with a small or large business. That means that you and your business are fair game to them!

Getting Cyber Liability Insurance to protect you is smart, here are some reasons why.

– It’s more affordable than you think. You can get coverage as high as $30 million with low deductibles, depending on your needs and what you’re willing to pay. Cyber liability insurance is still a new concept, so there’s a lot of variation among policies, and a lot of room for negotiation.
– It can cover more than you think. It could cover things like regulatory fines or penalties you might incur because of a data breach
– You probably don’t have a risk management team. This means that you are responsible for getting your business back on its feet.
– Even if you don’t host your data yourself, you’re still responsible. Is your website and any of your data hosted or stored in the cloud? Take a good look at your contracts: You’re still legally responsible.
– Your general policy won’t cover you. A good cyber liability policy can pick up where your general policy leaves off.

We understand your business needs. We are your source for North Carolina Business Insurance!

Give us a call today so we can protect your business!

Serving our community since 1989!

SPIVEY INSURANCE GROUP

704-821-4460 or 877-318-5951