Preheader Home Page Get A Quote About Us Jobs Payments Contact Us Blog English Espanol Auto Commercial Home Home page
Make a Payment More Products Locations

Business manMany people believe that large companies face the greatest cyber liability risks—a belief that grew stronger after the recent Target data breach. But, in fact, it’s startups and small businesses that are the most vulnerable. Why? Thousands of these businesses possess sensitive customer information, such as credit card numbers, medical records and/or Social Security numbers. And, because smaller businesses typically have fewer resources, they tend to have fewer security measures in place to protect customers’ personal information.

Hackers are commonly known as sources of security threats, but they’re not the only risk factor. A stolen company laptop, a document that doesn’t make it into the shredder or unauthorized access by a vendor could also create a security threat. If a data breach does occur, it could rock the financial stability of your business, often costing tens or hundreds of thousands of dollars.

But you don’t have to face the risk alone! Cyber liability insurance is designed to protect businesses from the expenses associated with a data breach. What does this mean? A data breach doesn’t have to bankrupt your company. In fact, while your coverage funds the expenses, you can focus your attention on cleanup efforts.

What does cyber liability insurance cover?

·         Digital forensic services

·         Customer notification and identity theft monitoring services

·         Public relations and good faith advertising to repair your image

·         Legal fees and settlements

The two types of cyber liability insurance include:

·         First-party coverage: Covers immediate customer and business needs

·         Third-party coverage: Covers legal needs

You can choose which coverage you wish to purchase or select them both. But even with the right coverage at your side, the best thing you can do is implement protocols designed to prevent data breaches. Some of these protocols may include the use of passwords distributed on a need-to-know basis, installing secure firewalls, setting up a virtual private network (VPN) connection for remote access and thoroughly training employees on the best practices associated with handling sensitive information.

Learn more about protecting your cyber liability risks. Call La Familia Insurance at (888) 751-7511 for more information on Dallas business insurance.

Posted 6:49 PM

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive

View Mobile Version
Facebook Twitter LinkedIn Blog RSS Google Maps