What Is Cyber Security Insurance Coverage?
Protect Your Future With a Cyber Security Insurance Policy
You might not have heard of cyber security insurance policies, but they are one of the best precautions you can have in place for your company. In short, cyber security insurance protects your business’s liability for a data breach or loss involving elements of customers’ personal information, such as Social Insurance numbers, credit card data, health records, or personal identification numbers.
What does Pure IT have to do with your insurance policies? Our services are here to help you find discounts on policies and assess the liability coverage you need. We perform an audit of your current security posture and vulnerability to cyber risks, and we conduct a risk assessment of the electronic data your business manages. All of this falls under our comprehensive approach to risk management.
We already offer protection from cyber attacks and unauthorized access with our layered network security services. Our team supports those efforts with disaster recovery and data protection if there are ever disruptions in your security safeguards. Offering our assistance with cyber security insurance is just one more way we look out for our clients at Pure IT. Allow us to help you be more proactive about safeguarding your future as an organization.
Does Your Business Need Cyber Security Insurance?
Cyber insurance covers the costs and expenses that arise from the fallout of security breaches. The expenses involved in insurance like this will rise and fall based on the size of your company and the number of risks you are facing. The cyber security insurance costs pay for themselves when you take into account the likely higher costs of cyber extortion, data restoration, and/or the recovery of your assets.
Many jurisdictions require businesses to notify any customers who are at risk following a data breach. This can become an expensive task for your company. These insurance policies can even cover the expenses for call center support and notification of customers affected by the data breach or loss. Having the resources to implement a service like this can even help you restore some of the client trust you may lose after a disruption in security.
Security insurance like this is designed to give you peace of mind and add another layer of protection, especially for small businesses. At Pure IT, we never want to waste your time or cause business interruptions. So, how do you know if cyber security insurance is right for your operations?
We would recommend cyber insurance if your business:
- Accepts digital payment such as credit cards
- Relies on computers or mobile devices for communication
- Collects and maintains private customer data
- Handles medical or financial records
These are not all the reasons for having cyber insurance, but they are a good place to start having the conversation about your IT insurance needs. You might think that your business or your risks are too small to worry about for insurance, but many businesses never recover from the consequences of a significant data breach or loss. Insurance like this can be a safety net that is there to catch your business before it hits the ground.
Why Rely on Pure IT?
Pure IT brings our clients an approach that focuses on saving time and money. You can rely on us to only recommend services and products that will benefit your business. We never waste your time or try to sell you anything your business won’t use. We guarantee that our team can find the IT solution that aligns your business goals with reliable IT services. We make finding the right IT solution easy for you and your company.
Along with creating custom IT solutions for your operations, we take the time to look forward and plan for the future of your business. This is where practices such as cyber security insurance assistance come into our library of services. It is too late to worry about insurance like this or disaster recovery strategies after you’ve already become a victim. We prefer to be proactive about protecting your interests and livelihood. We can help you find coverage and implement protections today. To learn more about our audits and cyber security insurance, reach out to the team at Pure IT.