A recent article from networkedworld.com outlines why a vast majority of companies need to protect its data, customers data, and other risks protected by a cyber liability insurance policy. The article is linked below and includes information on who is at risk, the minimal cost for a small business, common excuses and much more. A key highlight:
Almost every company has some kind of network, database or online presence that puts it at risk for litigation. If you have Web site content, your company can be targeted for violating copyright or intellectual property laws. A company laptop that is stolen or left in a taxi can launch a long and costly nightmare involving theft or extortion. A rogue employee posting on a blog, social media page or discussion forum can make your company liable for slander or defamation. Personal and financial information of customers sits on your servers or at a data store, daring hackers to get in and party.
Sound fun yet? There’s more. Add to that recent federal regulations requiring customers to be notified in the event of data compromise, and there’s plenty to keep you awake at night. More than ever, it’s vital to make sure your company is protected.
Most standard business insurance policies include general liability, which protects the policyholder in case of a suit resulting from injury or property damage. If you sell your product to a company whose employee becomes injured as a result, you’re covered. But if you sell that company software or forward an e-mail with a virus that damages records or allows a data breach, traditional insurance policies rarely offer adequate protection.
Please click on the link below for more:
Orcutt Insurance Group can help your Colorado business with anything insurance related. Please give us a call so we can help you find affordable insurance that meets your unique company’s needs. For more information please visit our Cyber Liability insurance page and our page that outlines the types of Colorado businesses we can assist to obtain this important insurance policy.
Thank you for your consideration
The Orcutt Group Team