cyber liability risksWith the rise of e-commerce and online marketing, it’s essential for business to adopt new forms of technology to keep up with the competition. However, in doing so, they also expose themselves to new cyber risks. What are these risks? Hackers can corrupt sensitive customer data, thieves can steal electronic equipment that may not be backed up, a storm can cause a detrimental power surge or even a trusted employee can leak data to external sources.

In this information age, it’s easy for data and identities to be stolen. It’s also easy to assume that these events are what you see on the news, such as Target’s recent data breach. But the truth is, every business is open to a cyber attack. While you can install firewalls and back up your data, there’s still a risk. In fact, over a third of all businesses experience some sort of data breach every year.

How do you protect your business from this risk? Apart from enhanced digital security methods, you can purchase cyber liability insurance. This type of policy offers financial compensation in the event of a data breach, which helps fund cleanup efforts. This can include retrieving lost or stolen data, reimbursing customers for fraudulent charges, offering identity protection services to at-risk customers, reputation damage control and more.

While some business have a much higher cyber liability risk, such as design firms or technology companies, any business that uses computers and stores digital information has some level of risk. Talk to a qualified insurance agent for a customized evaluation of your business’ risks and insurance needs to shield your business against cyber risks.

Worry less with the right coverage at your side. Call Integrity Network Insurance Group at (512) 989-6006 for more information on Round Rock business insurance.
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