Protect Your Business Against Data Breaches

As e-commerce has become more prevalent in everyday business activity, cyber security has become increasingly important. Your business’s secure digital information, including the personal information of your employees and clients, needs protection against the rising threat of cyber attacks. If your cyber security does get compromised, data breach insurance coverage can protect you from the costly recovery and reparations.

First-Party Coverage

Cyber security insurance is generally available at two levels of coverage, first- and third-party. First-party coverage deals directly with the fallout of a data breach within your company. This includes recovery costs, loss of productivity and investigatory expenses. Depending on the coverage amount, your insurer will alleviate some of the costs of implementing a new, more secure digital infrastructure. You won’t have to spend out of pocket expenses on getting your business back on track.

Third-Party Coverage

Third-party coverage protects your business against any resulting litigation in the aftermath of a data breach. Most third-party data breach insurance coverage will cover your legal fees and settlement agreements when customer and employee’s stolen data lead to financial damages. Your company’s cyber security should not be taken lightly. Lack of coverage can lead to an expensive and time-consuming recovery. Consult with your insurance agent to find out how you can benefit from data breach coverage.

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