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Cyber Liability

Category: Business Insurance

The way we all do business has changed over the years. Many if not most companies are now reliant on computers for their businesses to operate. With this in mind the risks of cyber attacks have significantly increased. It is not just large business and online retailers that are being targeted but any company that stores their customers data is at risk.

According to a recent report published by Small Business Trend, 43% of cyber attacks target small businesses and 60% of small businesses will close within 6 months of an attack. With 48 % of data security breaches being caused by malicious attacks and the rest due to human error or system failures it is a very real possibility that your business could experience a security breach.

If your business were to experience a cyber attack the cost to fix the issue could be overwhelming. From repairing databases, replacing lost or stolen laptops/computers,  notifying customers of the breach and strengthening security systems and procedures are just a few of the costs you could be faced with in the event of a cyber attack.

In the event your business becomes the victim of a cyber attack your traditional business          insurance may not provide the coverage necessary to help you restore your business.

To learn more about cyber liability or to request a quote  please call us at 716-632-6118.

 

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