As a small business owner or someone who recently took over a business, you may wonder about cyber liability insurance and how it can impact your business. Any business that utilizes the Internet should consider cyber liability coverage. However, this is almost a requirement to protect data in some industries.
Technological Services
Any company offering digital services, such as managing files or storing them, should have a robust cyber liability protection policy in place to ensure the protection of the data it gathers and stores for its customers. These companies are often some of the biggest targets for cyberattacks.
Healthcare
Any company or business with healthcare relations needs to have cyber liability insurance in their policy. With the high demand for electronic records, apps for maintaining communications, and all the required sensitive data, they make for a big target for hackers looking to get a lot of information quickly.
Financial Services
Any business that provides financial advice or coaching is also a high-risk target for cyberattacks. Because these businesses use sensitive information and different account numbers, they must secure this information with cyber liability insurance. This is just as important for small financial businesses as it is for large ones.
Hospitality and Entertainment
Any business that hosts guests or allows them to stay with them in the hospitality industry will require online reservations and credit card information stored to make payments. This type of sensitive information can be targeted by hackers, risking your entire clientele’s personal information. With cyber liability insurance, you can get financial assistance to cover any damages that are caused as a result of the event.
If you operate a small business in or around Arlington, TX, you should consider adding cyber liability coverage to your policy. Contact our agents at InsPeak today for more information and a quote.
