It’s now no longer a matter of if your business will experience a breach, but when. Be prepared with cyber liability. Let’s Work Together! Give us a call at (844) 501-1359.
There seems to be daily instances of the latest business to experience a data breach or cyberattack. As advancements in technology are made, the risks we face become more complex, more frequent, and more costly. In fact, according to IBM’s 2019 Data Breach Report, “the cost of a data breach has increased by 12% over the past 5 years and is now $3.92 million on average.”
Today, every business uses technology in some way and any business using technology, faces risks. Simple occurrences such as an employee whose cell phone is stolen out of his vehicle or a laptop taken home for the night, can expose a business to cyber risk. Other examples of cyber risks to your business include:
- Database hacking/loss of business data
- Credit and Debit Card Compromises
- Accidental release of consumer (client) information
- Ransomware
- Denial-of-Service
A vital step in safeguarding your business, protecting your customers’ information and your livelihood, is by adding Cyber liability insurance to your existing Business Insurance package.
Every business is unique and the amount of cyber liability protection your business needs, depends upon your level of risk. Our Massachusetts Cyber Liability Insurance experts will provide you with a complete risk assessment and will help you develop an effective cybersecurity plan to help you manage and mitigate risk.
Click here to learn more about Cyber Liability Insurance in Braintree or for more information on how Cyber Liability Insurance can help protect your business, submit for a complimentary quote or call us at (844) 501-1359.
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Important Features of Cyber Liability Insurance
Cyber coverage is typically delivered as part of a complete business insurance package. For example, cyber liability is usually added as an endorsement to an existing Business Owners’ Policy (BOP) or Commercial Property Policy.
Cyber Liability insurance can provide coverage for losses and damages to your business and also for any losses that your clients incur in a cyber attack. This important endorsement can cover expenses such as:
- Data replacement and restoration
- Cyber extortion
- Business Interruption
- Legal fees and regulatory fines
For customized solutions to help protect your business assets from cyber attacks and data breaches, submit for a complimentary quote on our website or connect with us by calling (844) 501-1359.
McSweeney & Ricci has provided us with insurance advice for over 45 years. I feel that having a great insurance agency working with us has been one of the reasons we have been successful over the years in business.