Data Breach Insurance
Protecting your business from liability doesn’t end with a Business Owners Policy. Massive amounts of data exchange — the engines of so many businesses — can threaten your business because they present opportunities for data breaches. Theft and exposure are threats wherever data is exchanged — even internally — and that includes your business, small or large.
Every business retains personally identifiable information about its customers, employees and vendors, but in the wrong hands this information can lead to identity theft or other forms of financial or reputational harm. The greatest risk for many businesses is the breach of this information, which can result in reputational loss that can cripple — or even kill — a small business.
According to a survey released in 2014, only 33 percent of small- to mid-sized companies have cyber liability policies. But awareness among companies is rising, as the same survey in 2013 showed just 16 percent of companies had the same policies.
Data Breaches present a major challenge for small business because they are both infrequent and complex events. Our Cyber Liability program helps manage these risks.
Call us now at 978-720-8005 for more information.