Cyber Crimes, Cyber Attack are terms we hear every day and unfortunately in today’s world EVERY business needs a Cyber Insurance Policy, yes that includes Your business ---- Hiring IT company support, having virus protection software, firewalls, and multi-factor authentication are all excellent strategies in preventing a cyber breach. However, none can guarantee 100% protection.
The landscape of business exposure has changed dramatically in the last few years and unfortunately, we can’t seem to escape these words (hacking, phishing, cyber threat, and cyber-attack). There are so many new terminologies when it comes to cybercrimes, thus leaving you without a clear understanding of these new exposures and the risk they bring to your business. Something that might come as a surprise to you, is that no cyber policy is the same. There is no standard form policy regarding cyber. Here are five areas of coverage that you need to look for on any cyber policy:
- Breach Cost
- Business Interruption
- Loss of income
- Cyber Liability
- Website Liability
Are you up to date on how these words affect you and your business? Don’t be caught off guard. Our agency has a new 5-week series called 5 Misconceptions About Cyber Insurance. The topics covered will include several top questions we receive from clients regarding cyber insurance.
Schedule an appointment with Shropshire today, we’ll evaluate your risk and guide you in the management of your exposures to cybercrimes.