31 Mar Does Your Business Have the Cyber Liability Protection You Need?
To protect their bottom lines, businesses and organizations, both large and small, must stay up to date on the evolving threats to their IT infrastructure and data. In 2021, the average cost of a data breach reached a staggering $4.24 million. In the event of a cyber-incident, you will want to have access to the right resources in helping your organization get back on track as quickly as possible.
It seems as if new information regarding cyber risks emerges every day. The Russian invasion of Ukraine has created an increased risk of cyberattacks across organizations of all sizes. Recently, the Cybersecurity and Infrastructure Security Agency (CISA) and the Federal Bureau of Investigation (FBI) issued a joint Cybersecurity Advisory to help protect organizations from destructive malware used in Ukraine.
To help keep your business safe, New England based law firm Bernstein Shur recently shared a list of action items and best practices to follow in your daily interactions with technology – including advice for your business when it comes to 2-Factor Authentication, Backups, Passphrases, Email Phishing, Password Manager, and Cyber Insurance.
Cyber Insurance can help offset the cost of a data breach and provide a host of resources to help enhance your organization’s cyber security. Clark works with a large variety of insurance providers to place cyber coverage that provides both strong coverage and breach response services that are necessary if a cyber-event affects you.
What Kind of Insurance Coverages Might Your Business Need?
- Privacy Notification Costs – Including Voluntary Notification Expenses
- Data Breach Response Expenses – Including Legal, Public Relations and Credit Monitoring Expenses
- Forensic Costs
- Business Interruption – Including Cloud Computing Providers
- Theft of Funds – Including Computer Fraud, Social Engineering, Phishing Scams, & Telephone Toll Fraud
- Cyber-Extortion – Including Ransomware Attacks
- Technology Errors & Omissions Liability
- Multimedia Liability
- Network Security & Privacy Liability
Understanding your business’ cyber insurance needs can be tough. That is why Clark Insurance’s agents will be there to help your business through every step of the process. From finding the right policy, to delivering quality safety & risk inspections and trainings, to filing a claim, you can feel confident and secure knowing that you are protected through Clark Insurance. We are here to help – contact us today!