If you've read the news lately, it's likely that you've come across reports of a data breaches at local companies. No industry is immune to these attacks, leading companies across a variety of sectors to strengthen their cyber security. Organizations who opt not to insure their data leave themselves vulnerable to data breaches, network damage and interruption of business. Choosing to add cybersecurity insurance to your policy helps to minimize the potential damages that result from network breaches.
Specialized Policies to Reduce Damages
Big data insurance
is designed to mitigate company losses from various cybercrimes and attacks. As criminal activity in technology continues to evolve, more companies are taking measures to protect themselves and their clients from potential lawsuits and breaches. The following plans are available to improve the protection of your organization and its clients:
- First-party coverage: offers compensation for immediate attention to customer and business needs following a cybercrime incident.
- Third-party coverage: includes plans for both liability and defense, protecting clients in the event of legal action taken following a data breach
Implementing Risk Management Strategies
Insurance providers can tailor policies to reflect the unique exposures of your organization, as well as the general exposures of your industry. Including big data insurance in your company's coverage is an essential component to risk management. By boosting the protection of your organization, your employees and clients can move forward with confidence.