Follow on Google News News By Tag Industry News News By Place Country(s) Industry News
Follow on Google News | Cyber Liability Insurance - "A Must Have"All businesses are at risk, particularly the small to medium size businesses who have less sophisticated security measures. They are much more vulnerable than the "big guys".
The issue at hand is that the data breach laws have created an additional cost to be burdened by somebody. Typically, whoever lost the information. Typical Cyber liability insurance can have 3 components: 1. Loss prevention or avoidance: Most companies offer pre-breach security suggestions. Vulnerabilites will pointed out and solutions identified. 2. Protection: In the event of a breach, this is what we typically think of when we think insurance. If your data in compromised, it provides funds for notification and monitoring. Loss of income could be replaced if you are breached, your servers go down, or your important data is lost. 3. Resolution: Your insurance company, in the event of a breach, will investigate the situation, provide a remedy to the extent possible, at the time, and most often will provide solutions for future prevention. Cost of this coverage has come down recently, but is still dependant on many factors including size of company, industry, volume of data, and security systems in place. For more information on cyber liability products, please contact us at www.americanheritageinsurance.com or (410)552-1200. End
Account Email Address Account Phone Number Disclaimer Report Abuse Page Updated Last on: Feb 02, 2015
|
|