Whether our customers and clients like it or not, cyber liability insurance has indeed become one of the most important factors for life in today’s business environment for companies large or small. This is because cybercrimes such as ransomware, phishing attacks, viruses, malware, and identity theft have flourished over the past couple of years.
It is an inevitable fact that this is a trend that is getting worse, and never better. Additionally, this is the bothering truth for all types and sizes of business. It is no longer a question of “if” but “when” your company will be attacked. Especially if your business relies on technology as the underlying machine to process information, store and secure data, and communicate both internally and externally.
(a.k.a. cyber insurance) protects your business from financial loss associated with a data breach or cyber incident. This may include operating losses or liability coverage for failure to produce and deliver goods and services to expectant customers.
Insurance companies, however, have stringent requirements of the IT security safeguards needed to accept new policy holders – and to pay out when claims arise. The new norm sets the bar high to prove you have the proper infrastructure in place.
Need help? Call Independence Computer Corp!