Small Businesses Need to Get Cyber Liability Coverage

Cyber Liability Insurance

Cyber liability coverage is something every business needs to have. Every company is at risk of having a data breach or loss, and when it happens, numerous costs need to be handled. Even larger companies are not immune, and you have likely seen a news story of when a notable company experiences a breach. Small businesses are not immune, so make sure you get insurance.

A Majority of Data Breaches Happen to Small Businesses

Data breaches to nationally-known companies make the news, but a vast majority of these cases, including credit card breaches, occur to small businesses. These companies generally do not have as tough security measures as more reputable companies and are seen as easier targets to hackers.

Insurance Can Help With Civil Litigation

Unlike multi-million dollar companies, your small business may not have the resources to recover from a data breach. Customers may take you to court to receive compensation for allowing credit card theft to occur. Paying out of pocket can ruin a business, but with a comprehensive insurance policy, you can receive assistance to help you get through this time.

It is better to be safe than sorry, so get cyber liability coverage as soon as you open up your small business. Having access to peoples credit card information, health records or bank account numbers makes you a target, so get the coverage you need.