Protecting Your Business from Cyber Liability
Small Businesses and Cyber Risk
With high profile data breaches (cyber liability claims) such as Anthem, Target and Home Depot, data security continues to be top of mind among IT professionals. Because of these breaches, millions of customers had their personal and financial information compromised. Many of the companies affected are still trying to rebuild their reputations and are now taking increased precautions to avoid future incidents. While it is easy for media to track the breaches of large, national companies, in fact the majority of data breaches affect small businesses.
This past year, numerous small businesses throughout the country have been subject to a variety of cyber attacks and data breaches, which lead to lost productivity, damages to trust and reputation, large fines and penalties. October is National Cyber Security Awareness Month which means it’s time to evaluate your security needs. Cyber security is just one of the many areas where businesses need protection and Dyste Williams works with a number of insurance companies to provide the best coverage.
Avoiding a breach is ideal but with the increase in the amount of data businesses store, quickly changing requirements and regulations on how this data is stored, and increasingly sophisticated criminal networks; simply avoiding cyber risk isn’t enough. Today, securing your business from a cyber attack or data breach rests equally on preparation as it does prevention. Cyber liability insurance policies can make sure you have the resources and support to provide a sophisticated response in the event of a breach. Cyber policies can provide small businesses with a team of specialists to quickly detect the source of a breach and remedy the issue, provide timely notification to affected customers and allow you to focus on re-establishing normal business operations.
Each business’ needs are different as they relate to Cyber Liability; Dyste Williams will work with you to explore the best liability options and help choose the appropriate carrier for your insurance needs.