Why your company might need Cyber Insurance

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As a business owner, there are many different types of insurance you might need to look into. General liability, business owners, and worker’s compensation are just a few. But have you ever thought about the need for cyber insurance? Do you know what cyber insurance is? Cyber insurance protects your organization for losses related to data breaches and privacy or security failures. There is always a chance that your company could experience a data breach or security attack and not having cyber insurance could seriously impact your company financially.  

If you’re still on the fence about cyber insurance, there are some important things to ask yourself to see if cyber insurance is right for you and your business.

 

Is your staff using computers to do their job?

If your company uses the internet at work, you need cyber insurance! Having access to the internet on computers or smartphones puts your company at risk of a cyber attack.

 

Does your company use a cloud service?

While not all companies use cloud services like iCloud to share files and collaborate on projects, yours might! If you do, your business should have cyber insurance for extra protection regarding your files and information.

 

Do you collect information from your clients/customers?

Depending on the nature of your business, you might be collecting important information from your customers such as addresses, telephone numbers, credit card info etc. It’s pretty much common sense to know why this information needs to be protected in a secure program and with cyber insurance.

 

Are you convinced yet? Worried about how much cyber insurance can be? It may actually surprise you how affordable cyber insurance is for your company! Increased competition by major insurers has make coverage widely available and each policy may contain important coverage considerations, so it’s important to carefully review each policy detail and be sure it matches your needs and we can help!

To learn more about Cyber insurance, feel free to contact Shields Insurance Agency today at (205) 783-5893 or visit https://shields-insurance.com/home/commercial-insurance-solutions/cyber-insurance/

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