Why is Cyber Liability Insurance Important?

Cyber liability insurance is going to be one of the biggest factors in helping industries of all types, practice better cybersecurity hygiene. In doing so, insurance companies are starting to enforce basic cybersecurity practices. When applying for cyber liability insurance for your business, you will have to answer several technical questions to make sure you meet the requirements.

If you ever have questions on that, please don’t hesitate to reach out. We can make short order of that work.

Secondly, you need to keep your cyber liability insurance in place because the average breach is costing 10,000, 20,000, to $30,000 for small to mid-sized businesses. It’s not if you just have a great backup and you’re not going to need it. It’s in hiring attorneys and others to help with the overall forensics. To see what happened and to who to report the security breach.

Finally, if you have a breach, it’s very likely to have your current cyber liability insurance policy canceled at the end of the term. Also makes it very difficult to get new cyber liability insurance and causes you to have a lot more controls or countermeasures in place. So you don’t want to have a breach.  If you have questions, just let me know. Stay safe out there.