Nowadays cyber-hacks, viruses and electronic identity theft are real risks that can occur at any time and they are on the increase - that is why Cyber Liability Insurance for your business is so important. It’s never been more imperative to protect your company and your yourself against hackers. Nearly every company relies on the internet and computers for some or every aspect of the running of their business. Firms use computers for things like payroll, emails, data storage and office applications. With an increased reliance on the internet and technology in general comes a heightened risk of a security breach through those platforms.
What is Cyber Liability Insurance?
Cyber Liability Insurance from Rigby Financial can guard your business against any threats that could come from the internet such as hacks or viruses as well as reducing damage should you suffer a breach.
Most businesses, however large or small, use the internet in one way or another, through e-commerce and other means. Your valuable data and personal information could be at risk, not to mention the financial repercussions that could arise from such an attack.
Cyber Security Insurance for small businesses can help you to recuperate the costs incurred should any of these instances occur. Cyber liability insurance can provide backing for things like business interruption cover and data recovery.
What can Cyber Liability Insurance cover?
How to reduce Cyber threats to your businessWhile Cyber Security Insurance providers give you a policy to fall back on should you suffer a breach there are still actions you and your staff can take to reduce the risk of such an event happening. With hacking methods constantly changing and developing make sure your staff are trained to spot the latest threats to ensure you are not claiming a loss of data on your Cyber Liability policy. Use data encryption to protect the data on a hard drive so that it can only be accessed with a decryption key rather than just a simple password.
Protect hardware in your office by installing secure doors that require a scanning pass to access a particular room. This will reduce the risk of hacking due to the loss of a device or memory stick and reduces the risk of unwanted intruders and break-ins. While Cyber Security Insurance is necessary to protect your business in a worst-case scenario, you can take these steps to make sure you do not have to claim on your policy.
Never has it been more important for businesses to have an adequate level of cyber security insurance in place. For more information or to discuss your policy, speak to one of our experienced advisers.