Did you know that cyber liability insurance protects small businesses from the claims and associated expenses the result from a cyber-attack, data breach, or system hacking? That includes loss of income, damages to your organization’s reputation, and other related expenses. Cyber liability insurance typically provides coverage of all devices that could be stolen or ruined by a hacker including computers, laptops, tablets, and smartphones. It also provides you with protection if you’re a victim of either computer hacking or viruses.

Your cyber liability insurance policy also covers you for slanderous blog content, data corruption, data theft, and crisis management. In essence, that means it pays for public relations and brand rebuilding efforts if they are required. You should also be aware of the fact that most cyber liability insurance policies do not cover preventable security issues like poor configuration management or mishandling of digital assets. Most policies do not cover acts initiated and caused by the insured, or incidents that occurred before the policy went into effect.

If your infrastructure fails and it is not related to a cyber-attack, the policy will not cover any damages. If you suffer from a data breach and take out the policy after the fact, you will not be covered for it. In addition, loss of property or damage to property that is covered under your property insurance policy is not covered under your cyber liability insurance. Cyber liability insurance isn’t typically the first thing that small business owners invest in when they take out insurance policies. However, it should be near the top of the list.

Cyber-attacks, ransomware, and data breaches don’t only happen to big name corporations. It happens to businesses of all sizes across the Unites States. Did you know that over 70% of cyber-attacks happen to small companies? This is due to the fact that larger corporations typically have more protection in regard to cyber security. Big corporation can afford to pay for cyber security. However, small businesses are low laying fruit that’s easier to pick because they don’t have the same cyber security budgets.

Many small companies end up going out of business when they suffer from a cyber-attack and do not have a cyber liability policy in place. Do not allow that to happen to you. Although you may not be able to prevent a cyber-attack, you certainly can and should make sure that you are covered from an insurance perspective in case it does happen to you.

If you own or operate a small business in the Commonwealth of Massachusetts than you need to ensure that you have the proper cyber liability insurance coverage in place. We can help you get the best deal on your workers compensation insurance plan.  Please consult with a professional insurance agent that can answer your questions about all insurance related topics. It is important to fully understand exactly what you are buying when it comes to insurance policies.

If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your insurance policies and explain your coverage options. We look forward to helping you with all of your personal and or business-related insurance needs now and in the future.