Companies of all sizes are hacked every day by cyber criminals with master plans to disrupt their livelihoods and hold their networks hostage. These attacks are on the rise in 2021 and it is estimated that 33 billion records will be stolen by cyber criminals by 2023! These criminals are not just stealing data but they are also holding entire systems hostage for days and weeks, essentially crippling businesses.
You can do something about this before it is too late and you become the next victim. Implementing cybersecurity controls and working with an experienced IT company is important – but not enough. You can do everything right to protect your network from a cyberattack and still get hacked.
Protect your company, your customers, and your data with Cyber Liability Insurance.
Cyber liability insurance will protect your business from the high costs of a data breach or malicious software attack. It covers expenses such as customer notification, credit monitoring, legal fees, and fines.
The Bright Agency – Jensen Sheehan Insurance team has over 90 years of experience servicing commercial and personal lines customers. Protecting your hard-earned assets is our passion. We offer quality coverage that can deliver peace of mind.
The right policy will protect you against a host of critical cybersecurity liabilities, including:
Data Privacy & Network Security Liability
Cybersecurity liability insurance protects you against losses for the failure to protect a customer’s personally identifiable information (SSN, credit card numbers, medical information, passwords, etc.) from common cyberattack methods like theft, unauthorized access, viruses, or denial of service attack.
Incidence Response Expense
The costs of responding to a cybersecurity attack can reach anywhere from $450,000 to $850,000 or more. You might lose customers or productive work time, have part of your company’s infrastructure taken down for an extended period, need to replace computers, or face a whole host of other costs. Cyber liability insurance can help cover many of these expenses.
Cyber Extortion / Ransomware Coverage
Cyber criminals can lock down your systems and demand payment to get your business back up and running. Losing time and the ability to run your business due to cyber criminals can have a devastating effect. Cyber liability insurance coverage can help you recoup any monies you’ve had to pay to get control of your business back.
Network Asset Restoration Expenses
Computer crimes, like malicious code or denial of service attacks, can cause you to lose or deal with compromised data. A cyber liability insurance policy provides coverage for costs incurred to recover or replace electronic data that is compromised, damaged, lost, erased or corrupted by a cyber data breach or other security incident.
Business Interruption Coverage
Business interruptions can be devastating to your business. Criminal hacking can cause system failures that result in direct loss of income. Commercial cyber insurance can help you to recover the profit you would have earned if there had been no service interruption, along with the costs to run your business, including payroll expenses, utility bills, etc. Basically, with a cybersecurity liability plan, you’ll be able to reduce the effect of the loss on your bottom line.
In addition, if your business is victimized by cybercriminals, you’ll need critical support. Our comprehensive cyber liability insurance plans offer:
- Pre-Claim Assistance
- Post-Incident Remediation
- 24/7 Cyber Incident Hotline
You do not have to face a devastating cyberattack alone. With network security liability insurance, you have our experienced team in your corner, and a safety net provided by a premier cyber liability insurance plan.
CYBER BREACHES CAN HAVE A DEVASTATING IMPACT ON SMALL AND MEDIUM SIZED BUSINESS, ESPECIALLY.
43 percent of cyberattacks target small businesses. These criminals know that hard-working entrepreneurs will do anything to get their business back up and running. But sadly, more than half of small businesses that fall victim to cyberattacks find themselves out of business within six months. The hard costs, as well as the hurt reputation with customers and partners, can have a devastating impact.
THAT’S WHY EVERY BUSINESS – ESPECIALLY A SMALL BUSINESS – NEEDS A COMPREHENSIVE CYBER INSURANCE POLICY.
- While close to half of cyberattacks are aimed at small businesses, only 14% are prepared to defend themselves, according to Accenture.
- Cyberattacks now cost businesses of all sizes $200,000 on average, according to cyber liability insurance carrier Hiscox
- More than half of all small businesses have suffered a breach within the last few years
- Today it’s critical for small businesses to adopt strategies for fighting cyberthreats – and to carry a cyber liability insurance policy
CYBER LIABILITY INSURANCE IS AN IMPORTANT TOOL IN YOUR CYBERSECURITY PLAN OF ATTACK.
DON’T GET CAUGHT WITHOUT THE COVERAGE YOU NEED.
CONTACT US TODAY FOR A CYBER LIABILITY INSURANCE QUOTE.