As business practices transfer many processes to online software so do risks.
A few suggestions to protect your valuable business include active malware detection software, password rotation, encrypt data and communication, two-step verification and consider getting a cyber liability insurance policy.
According to one study done by the US Small Business Administration, 88% of small business owners feel their business is vulnerable to a cyber attack.1 These concerns may be well founded: according to another study, 46% of all small businesses have at some point been the target of a ransomware attack.2
As business practices transfer many processes to online software so do risks.
A few suggestions to protect your valuable business include active malware detection software, password rotation, encrypt data and communication, two-step verification and consider getting a cyber liability insurance policy.
Business owners are required to protect their customers’ personal information. In all 50 states, Guam, Puerto Rico, The Virgin Islands, and the District of Columbia, businesses are required to notify individuals of security breaches involving personally identifiable information.3
As evidenced by news of large-scale data breaches, online hacking has become another form of risk that businesses now face everyday. Like many risks, businesses can insure themselves against the financial damage a cyber-attack may inflict.
Cyber liability insurance may cover a range of risks, including: