Cyber Insurance

As the risk of cyberattacks are continuing to rise, more and more businesses are turning to cyber insurance as a way to protect themselves.  Many have realized cyber insurance is an essential asset when owning a business as it adds an extra layer of security and safety.

What is Cyber Insurance?

Cyber Insurance is designed to help protect businesses against cyber crimes, such as malware, ransomware, or any other attacks that can leave devastating effects. It is an essential asset when owning a business since it adds an extra layer of security and safety.


The Importance of Cyber Insurance

The loss of electronic data can have a negative impact on a business.  If your business is hit with any type of cyber attack, it can result in the loss of revenue and customers.  If any customer’s confidential information is breached, the business can be held liable.  Cyber Insurance will help protect your business, as well as speed up the recovery process.


If You Have Cyber Insurance, is Cyber Security Still Necessary to Have?

Yes!  When purchasing a Cyber Liability Policy, you must agree to take and maintain the necessary steps in order to prevent a Cyber Attack from happening in the first place.  The necessary steps are having a strong Cyber Security plan in place.  Cyber Insurance companies will deny you for a policy if this is not the case.

Cyber Security and Cyber Insurance are equally important and both are needed.  Cyber Insurance is meant to protect you if an attack were to happen, but Cyber Security can lower the risk of an attack happening in the first place.

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