It seems to be in the news on a daily basis in Reading, Wyomissing, Myerstown, Sinking Spring, Wernersville, PA, and the surrounding areas where a business has suffered from a data breach of some kind, and thousands or even millions of customers have had their data stolen. The importance of cyber liability insurance cannot be understated for businesses, and at Stubbs Insurance Agency we can help you to have this protection to help rebuild the business. Cyber threats are only increasing, both in sheer numbers as well as sophistication, and while you do your best to prevent a data breach from happening, when it happens you have to drop everything and handle the fallout from such an event. Cyber liability insurance is there to help with the rebuilding process and to deal with any legal expenses that result from such an event. Contact us today to find out how important cyber liability insurance is for your business.
The Hidden Costs of a Data Breach
You may not fully realize all of the hidden costs of having a data breach happen at your business, but there are definite costs that will affect your business. There may be damage to your reputation or you may experience customer loss due to fear of information security. Downtime is another hidden cost of dealing with a cyber-attack. Most other operations need to halt so that you can focus on cleaning up the mess of the cyber-attack. Adding new precautions, analyzing how it happened, and more, all result in downtime for the main business, which hurts productivity as well as money-generating activities.
Helping with the Cleanup
Cyber liability insurance will be there to help deal with the costs associated with a data breach or cyber-attack. Important steps such as notifying all of your customers, covering the cost of recovering or rebuilding the lost data can be included aspects of your cyber liability insurance. All of this is a significant financial impact to any business, so having these costs covered by insurance can help keep a business solvent and ready to make adjustments to help prevent a future incident.
Taking the ongoing steps of protection and security of your sensitive data is important in Reading, Wyomissing, Myerstown, Sinking Spring, Wernersville, PA, and the surrounding areas, however it really is a question of when and not if you experience a data breach. Stubbs Insurance Agency can help you to put the right cyber liability insurance in place before you experience such an event. Contact us today to discuss your cyber liability insurance needs.
