If you’re a database management business, then protecting your clients data and your business from lawsuits and third-party liability claims should be some of your top priorities. No matter how big your business is, what type of industries you serve, what type of data you have and/or how big the IT infrastructure you manage is, unexpected events or errors could cause significant financial loss to you and your clients is something goes wrong.
As a database management business not only do you have access to your customer’s sensitive company databases and information, but your business is also responsible for ensuring the databases are operating smoothly. You are also responsible for ensuring that files and data are secure and accessible per your contractual commitments.
Even one slight error could cause your client an enormous loss and result in an expensive lawsuit for your business. With database management business insurance from ALIGNED, you can choose between many types of coverages and coverage limits based on your specific business needs, preferences and budget.
Why Is Database Management Business Insurance Important?
Database management businesses have access to confidential client information, data, files etc. Whenever you provide professional services to a client, especially when it relates to third party data, it comes with inherent risk. In addition to the cyber/data risks there could be customer injuries and/or damages to your physical property too. If something goes wrong, your client can always sue regardless of the contractual terms and conditions and even the best run companies can find themselves caught up in a costly lawsuit or repairs.
Here are some scenarios where database management business insurance can protect you:
- You make an error that causes the client to lose some of their important files/data.
- A client visits your office for a consultation and injures themselves.
- Someone hacks into the database of your client and gains access to their information.
- An insured peril damages your commercial property and equipment.
- An IT issue on your end causes down time and loss of revenue for a large client and they sue you for the related loss of income.
With protection from database management business insurance from ALIGNED, you can keep your business protected against financial loss in the above scenarios. Insurance will help with medical bills, legal defence fees, repairs, settlements, awards, and more.
What Does Database Management Business Insurance Include?
Cyber Liability Insurance – when accessing and/or storing sensitive client information and company data, cyber liability insurance can protect your business against many loss scenarios including if your client sues you because their information is leaked.
Commercial General Liability Insurance – protect your business against third-party claims of libel, slander, false advertising, property damage, and injuries. It also typically includes a product liability insurance policy.
Professional Liability Insurance – protects you against claims of error, negligence, omissions, or another failure to deliver promised data services because of the professional consultation and services you provide to clients.
Commercial Property Insurance – protects your assets against damage in the event of a fire, vandalism, flood, or other natural accident beyond your control.
Find The Right Database Management Business Insurance From ALIGNED
ALIGNED works with Canada’s top insurance companies to provide custom insurance packages at affordable prices. Click Here To Get A Quote or contact one of our business insurance experts for information or with any questions you may have.
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