October is Cyber Insurance Awareness Month
Cyber & Data Breach Insurance
Does your business have a risk of a cyber-attack or data breach? I would say YES!…more than ever! You don’t have to be a large business to be vulnerable to data breaches or cyber-attacks. Small and mid-sized companies can be vulnerable as well. Sensitive business and personal information can be lost or destroyed by computer hackers, thieves and dishonest employees, and data can be exposed through accidental or inadvertent release. Yet many businesses lack the resources to respond effectively.
Concerns about data breaches are so great that now most states have laws requiring business owners to notify affected persons.
In the event of a data breach, a business must be able to notify all parties that were affected by the breach, communicate effectively the scope of the possible damage, and provide credit monitoring assistance and identity restoration case management to those impacted. In addition, it may also face legal defense and settlement costs if an action is brought against them because of a breach.
For more details on how to protect your business from a cyber-attack or data breach, please click here contact a friendly insurance agent at Stolly Insurance Group.