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Small Businesses – More than half of all cyber attacks are against small businesses. Experts believe that cyber criminals aim at small companies because they see them as easy targets. Small companies may not have the same resources as bigger conglomerates to combat crime crimes. Criminals are also banking on smaller companies having employees that are not trained well in terms of avoiding cyber crimes.
Employee Training – The majority of cyber crimes are preventable. When you have cyber insurance, it gives you access to employee training programs. This will prepare your employees with the information they will need to spot a cyber criminal’s attempt to harm your business.
Protection & Coverage – Most lines of insurance that businesses have will not cover incidents related to cyber crimes. Many policies are designed to cover physical property, not digital assets. A cybersecurity policy will cover parts of your business that your traditional lines of insurance will not. This helps businesses to recover after a cyber incident.
Most cybersecurity insurance policies will consist of first-party and third-party covers.
These sections of a policy will cover a business's financial loss that results from a cyber incident. In this case, a cyber incident is defined as any actual or suspected unauthorized system access, electronic attack or privacy breach, or system downtime.
Incident Response - This will cover the costs of getting assistance from IT security professionals or forensic specialists. It can also come with legal advice. Business owners with this policy can expect to have the costs covered to notify people of a data breach within the company and that their information may have been compromised.
System Damage and Business Interruption - This covers costs for a business's data and applications that may have to be repaired after a cyber incident. It also reimburses a business for the money lost during the interruption of business operations.
Cybercrime - This usually relates to the theft of funds from a business through extortion, electronic compromise(hacking into a network), or social engineering.
These sections are there to cover a business for liability actions against them that result from a cyber incident.
Media Liability - This will cover any third party claims that arise out of defamation or infringement of intellectual property rights.
Network Security & Privacy Liability - This will cover third party claims that result from a cyber incident, whether it’s the transmission of malware to a third party’s system or failure to prevent an individual’s data from being stolen.
A recent study took a look at the type of policy limits businesses purchased and the type of cyber incidents they reported.
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Get critical, time-sensitive alerts pertaining specifically to your business sent straight to your phone
Access our specialist technical team for help with risk mitigation, best practices and more
Activate tools like Deep Scanning and Dark Web Monitoring which identify vulnerabilities before they lead to an attack
We’re taking our cyber security services to the next level with our partnerships with Acrisure and the United Motorcoach Association. This allows us to strengthen our commitment to delivering quality results to our clients. also banking on smaller companies having employees that are not trained well in terms of avoiding cyber crimes.
Cybercrimes are a risk to businesses in the transportation industry more than ever before as more companies are using technology and access to the internet to streamline operations. These types of companies are targeted by criminals who specialize in ransomware and cyber extortion.
You will have complete access to forensic and incident response specialists who will help you get your business back up and running.
You will find assistance to help you recover money that was lost from ransomware attacks, data breaches, or funds transfer fraud.
You will get business interruption coverage in case your business or one of your suppliers suffers from a cyber incident or system downtime.
You will have complete access to forensic and incident response specialists who will help you get your business back up and running.
You will find assistance to help you recover money that was lost from ransomware attacks, data breaches, or funds transfer fraud.
You will get business interruption coverage in case your business or one of your suppliers suffers from a cyber incident or system downtime.
Find out more about the protection we can offer your business when you speak with one of our team members. We’ll help you find out which policies will work best for you and offer the most protection. Ask our team members about our free quotes! We want to make sure you get the best possible rate for your business. Click here to get started.