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Small Business Cyber Liability Insurance - Technology Security & IT Risk Brokers + Quotes

Small Business Cyber Liability Insurance Insight  |  Cyber Coverage Is Often Excluded 

As a small business, you are likely hyper aware that risk can trip you up when you least expect it. One such risk are your cyber exposures. Be it stored customer data or website content cyber exposures are vast and require the best small business insurance options.

[ONLINE] Just click to get ONLINE Cyber Liability Insurance for your commercial business today.

However, a standard business liability policy is extremely unlikely to protect against most cyber exposures and in fact, explicitly excludes such coverage.

[Did you know?] Cyber liability coverage for small business in the current Canadian insurance market is value priced.

Data In Target – Yours & Your Clients’
Just one malicious cyber attack could bring the day-to-day activities of your small business to a standstill. Damage could be caused by:

  • A DDoS (distributed denial of service) attack that cuts off access to your website
  • A malicious code that renders your website unusable
  • Viruses or worms that delete or vital operational information

Exploiting weaknesses in corporate computer systems, whether through traditional hacking methods or social engineering is a full-time job. Hackers, thieves and other unauthorized individuals are now adept at finding ways to compromise security – this is where small business insurance and cyber liability can provide coverage you need.

Why Small Business Cyber Liability Insurance Is Surprisingly Affordable
If your data is compromised and normal operations are halted, small business insurance and cyber liability coverage can help pay for interruption related expenses such as:

  • Operating expenses, such as utilities, that must be paid even though business has temporarily ceased
  • Profits that would have been earned had the hacking situation not occurred
  • Lost income due to the cyber attack event
  • Rented or leased equipment

With Cyber liability coverage as part of your small business insurance can provide protection from:

  • Cyber extortion, including ransomware, which is malicious code installed into a computer on your network that prevents you from accessing it until a ransom is paid
  • Data breaches, including costs for customer notification, some legal costs and credit monitoring for those affected
  • Data or code loss due to a natural disaster or malicious activity. Physical destruction of equipment is covered under a different policy
  • Damages to third-party systems if, for example, an infected email from your servers crashes the system of your small business clients or suppliers

Proactive cyber risk tactics, privacy coverage and cyber liability insurance are all part of a comprehensive risk management strategy. Talk to us about the best cyber solutions. 

Source: IRMI  

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