With the advent of the Internet came greater information storage and communication risks. The threat of a cyber security breach looms for big and small businesses alike, and the costs can be devastating if you don’t carry cyber liability insurance.

Your general liability policy may not include coverage for privacy breaches or other cyber-related incidents, such as the transmission of viruses or other malicious code. If your business has a presence in the social networking channel, such as blog or a website, you can add copyright infringement, libel and defamation of character claims to the list of your growing risks.

A cyber liability insurance policy can help pay for costs related to cyber errors and cyber crime as well as your legal defense costs. Some policies provide coverage for other costs, too, including cyber crisis management, notifications to those affected, and forensic investigation of the incident. If you are concerned about damage to your own computers and network, ask your Nottingham Insurance advisor about cyber security insurance coverage. Such a policy may assist with business interruption insurance for a cyber-related disaster.

If you store or transmit personal or proprietary data or customer banking or credit card information using a computer system, you need to consider cyber liability insurance.

9DSS is partnered with a an industry leading insurance company that will protect your company if there is a breach of your organizational information infrastructure.

Does your business need Cyber Liability Insurance?

Most small business owners understand that the personally identifiable customer information they have on their computers is a target for hackers and that their online presence leaves them open to liability claims.  However, far fewer take adequate measures to protect their business. Here are some example scenarios where a businesses could benefit from cyber liability or data breach insurance:

+ The business has a network that their employees all save data on, which is helpful but also puts the entire operation at risk should a computer virus work its way in.

+ The business keeps customer/patient records such as medical histories, credit card, bank account and Social Security numbers in its database – which is a target for hackers.

Why your small business should consider Cyber Liability Insurance