Cyber Insurance Explained.
Its undeniable that we live in a different time than we did twenty years ago. Technology now controls most of our daily activities and has made a tremendously positive affect on making every-day tasks convenient and affordable. However, naturally, as people and companies continue to make positive advancements in the world, others are working against these developments to cause harm.
As these cyber criminals become more experienced, the exposure to different forms of cyber risk are both endless and broad. Have you ever had a text message from a name you don’t recognize? How about an email with a link you don’t trust? Just as you may have experienced, companies get threats such as these, but on a much larger scale, and with potentially grave consequences.
There are no limits for these anonymous criminals, and it is our responsibility to protect ourselves from these encounters – good thing we have insurance! We do right?
Well, as technology has advanced, so have insurer’s offerings to protect these digital exposures and assets.
Like traditional businesses, tech companies are all unique and deserve a wide array of coverage options to help protect different risks that they are vulnerable to, online or otherwise. There are several different areas that need cyber protection, and whether you are a tech company or a traditional business, you could argue everyone could be affected by online risks.
Cyber insurance policies package together a variety of coverages to help protect a company from the most common threats made online, such as: the protection of customer information and data, website hacking and recovery, hardware replacement, incident management expenses, extortion payments and rewards, and much more.
Almost every business has online exposure, even if it’s as minor as a basic website, so let’s chat on the greatest digital threat to your business and how we can protect it.