Protecting Your Business in the Event of Cyber Attack
As a veteran of the Marine Corps I know first hand that even the US government can be hacked. My information compromised during one of the attacks from China on our governments servers.
I also am a small business owner and everyday I see the potential just from my business of how much information is truly at risk. But these are the times that we live in and as a business owner you can not afford to just ignore it and hope it does not happen to you.
There are policies on the market for your business now, but you must make sure to ask your agent or company questions to make sure it is the policy for you. Whether you take credit cards, personal information, hold a database of your clients or have a server potentially you are a target.
Even a minor breach can cost you hundreds of thousands of dollars no matter how small your business is. The last I saw it on average would be a minimum of $280 per individual, it does not sound like much but add all of the clients you have now, in the past and potential new ones. It can and would add up quickly.
The cyber liability coverage is not normally part of a basic business policy, a business owners policy or a general liability policy. With some companies it can be added and there are ones that are a stand alone policy.
Ask your agent or company about Cyber liability, do not ignore it and hope it doesn't happen to your business.