Miami Insurance and Cyber Theft Concerns

Miami Insurance and Cyber Theft Concerns

As recent news stories would suggest, cyber theft and cyber liability are a growing issue that isn’t likely to go away any time soon. Unfortunately, data breaches can happen to businesses of any size. You do not need to be Sony, Target or Home Depot to have your information stolen and used maliciously.

The costs of a cyber intrusion can quickly add up, with the need to potentially hire a lawyer, a public relations firm to help try to restore your reputation, even a forensics team to find and stop the data breach along with the cost to notify those affected. These are all valid reasons why you need Miami insurance for any and all cyber concerns.

Any business that conducts operations with computers is at great risk of dealing with a data breach. Every year businesses, both large and small, experience increases in data breaches and/or incidences of computer hacking. And yet, many small businesses still believe that data breaches are unlikely, even though small businesses are increasingly becoming targets of hackers and cyber thieves.

What constitutes a data breach or cyber theft?

A data breach is when your company’s sensitive, confidential, digital information is lost or stolen by an unauthorized party. Any time that an unauthorized party is able to access customer, employee, or trade records and information, this can result in catastrophic results for your company. However there are a few simple procedures that can assist in curbing your chances of experiencing a cyber-security breach.

Anyone who owns a business should use password protection and data encryption, as well as restrict employee access to sensitive information. Also, use firewalls to control access and lock out hackers and ensure that remote access to your company’s network is secure.

By implementing these basic security procedures your chances of dealing with a data breach can be significantly lowered. Backing your business up with a cyber liability policy is also not a bad idea. Typically, a Miami insurance cyber liability policy covers copyright & trademark infringement, unauthorized access, introduction of a virus, and any activities involving your business’ use of the Internet. Data breaches are serious business and should always be treated as one.