Most businesses today are online in some form or another. Whether they use computers to help run their businesses or mostly use them for marketing, every company can be at risk for a cyber or data breach. Such an event could cost you money, customer information, company and employee information and your trustworthy reputation. While many businesses make securing their computers and websites a priority to help prevent a breach in the first place, it can be important to know your options for after one has occurred. If you’ve protected your company but want to know how you can be assisted after a breach, a cyber insurance broker can help.
There are many coverage options available for companies that have experienced a cyber breach. You can choose coverage for legal liability and the cost of hiring an expert to contain the damage to your reputation. You can also select coverage for lost business income and the cost of an investigation. Other options include coverage for damage to your data and the analysis so you can potentially discover the entity that caused the breach. There are many other coverage options, but you may want to leave determining your risk factor to an experienced cyber insurance broker. They should be able to examine your business and determine the right amount of coverage at a price that fits your company’s budget.