Cyber and Data Breach Insurance
Get Protection Started for my Data
Most businesses use computer networks in some way, form or fashion. Whether it’s interacting with customers, managing inventory, or handling financial information – we’re all connected and online. Therefore, if something happens to your data, you have to spring into action.
So, how do you react following cyber breaches or data losses? Limiting the negative effects for your business and your clients might take a lot of money. But, don’t worry. If you protect your business with cyber insurance with the help of the McFarlin Insurance Agency, you can get the assistance you need.
What is Cyber Insurance?
We can’t say it enough—no computer network has total security. Hackers, viruses and other bad actors target business data for personal gain. Everyday hazards like water, lightning or power surges could easily destroy unprotected data. It’s not just a threat to you, it’s a threat to everyone on your network.
If something like this happens, your business’s recovery depends on how you’re able to respond. With cyber insurance, you have help controlling the damages and privacy compliance issues resulting from data losses.
One of the most important elements of cyber insurance is liability protection. It can cover both the business and third parties with whom it does business. Coverage can include protection from
- Cyber-attacks from hackers, ransomware or other hazards that expose private data
- Data losses or destruction
- Dishonest actions or unauthorized data access that lead to breaches
- Dishonest employee actions
- Loss of funds from data theft or losses
- Intellectual property infringement from website content
What does cyber liability insurance cover?
- Business interruptions if you cannot operate while dealing with a cyber threat
- Regulator notification and fines in case you have to report losses to state authorities
- Privacy and credit services monitoring for customers whose sensitive data was lost
- Settlements or third-party compensation for lost or exposed information
- Damage control and public relations costs
Don’t Forget Property Insurance
You likely need more than just liability coverage to protect your networks. Coverage for physical items, like monitors, hard drives and other electronics, usually comes with your commercial property insurance. Our agents can help you set up appropriate limits to replace these items, as needed.
Insuring Data Networks to Your Specifications
Every business uses data in a unique way. Your cyber insurance should reflect that. Here at McFarlin Insurance, we will insure your data networks in a comprehensive manner. We work with you to research and compare various policies to help you find one that most effectively protects your business.
So, don’t wait until you face a data crisis to find out you don’t have any backup. Call one of our experienced agents today at (410) 312-7800.