Cyber Security
Cyber Security
Cyber insurance protects businesses against threats to their computer systems and data. Common examples include the theft, damage, or misuse of sensitive information and technologies. It’s also called cyber security insurance or cyber risk insurance.
A cyber policy includes first- and third-party protections for your business and customers. Learn how cyber insurance coverage can help with downtime, data recovery costs, repairs, and legal fees. Any business that stores or processes sensitive information needs cyber insurance. This data can include names, addresses, Social Security numbers, medical records, or credit card information.
Also, any third-party who handles your confidential data and information, such as an accountant or IT service, should have their own cyber insurance policy. Be sure to get proof of coverage before hiring them.
As more small businesses choose to use and store digital data, the need for this coverage has expanded to more than just the healthcare and banking industries.