Cyber Liability Insurance

The biggest threat to your business could come from online

The worldwide economic impact of cyber-attacks is expected to top $6 trillion in 2021. As if you didn’t have enough to worry about when it comes to protecting your business—cyber-attacks are now a threat for every size of business. Plus, the types and complexity of threats are increasing every year; data breach, ransomware, fishing schemes—and they all pose a threat to your business.

Cyber-attacks can be devastating to a business—even your business. In fact, it is estimated that 60% of small businesses can’t survive the financial impact of a cyber-attack.

Let us help protect your company from the potential financial ruin of a cyber-attack.

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Myth

There is no such thing as cyber liability insurance.

Fact

While relatively new, cyber liability insurance is real— and probably less expensive than you think. Like all insurance, there are different coverages available and policies should be customized to fit your needs.

Cyber Liability Insurance for Business

Data Breach

So commonplace that they are no longer shocking, big company data breaches are a regular story on the nightly news. Whether it be personal data from a  healthcare provider, or credit card data from a big box store, the threat is real. Hackers are now setting their sights on smaller companies, even those in the B2B space.
 
No matter the size, if your business collects any sort of Personal Identity Information (PII), Payment Card Industry (PCI) or Protected Health Information (PHI), your company could be exposed. The consequences of a breach can be dramatic—financial, reputation damage, operational downtime, legal exposure, personal data, trade secrets. We can help develop a coverage to protect your company from the financial challenges brought on from a data breach.

Media Liability

Did someone take exception to something you or one of your employees said online? If your company creates or publishes content, digitally or printed, media liability insurance can help protect you.

Technology E&O

Like many professionals, people in the technology business are often paid for their advice. When bad things happen as a result of that advice, you may be on the hook for the consequences. Technology Errors and Omissions (E&O) coverage can help protect you. Ask us how.

Virtual Workforce/Home Office

More people are working from home than ever before. If your team is part of the new virtual workforce then your exposure points have been multiplied exponentially. Because any connected smart device (wireless printer, a smart TV, tablet, etc.) can be a portal for a hacker into a home network, an assessment of your employee’s home network and related firewall is a must.

The same applies to entrepreneurs working from home. If you collect any type of data on your clients and prospects, you need to protect your network. While personal insurance generally covers “identity theft”—that type of coverage has its limits. Make sure you have a secure network and understand how your access to the internet is protected.

If you would like to find out your exposure as the result of a data breach, try out this easy-to-use Data Breach Calculator.

Data Breach Calculator

Need to protect your business with cyber liability insurance?

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Tips for minimizing the impact of a cyber attack

  • Do an assessment. Are there holes in your network? Outdated hardware or software?
  • Make sure you have robust security protocols in place. Is someone monitoring your network and able to detect attacks real-time?
  • Before you experience a breach, make sure you prepare an incident response plan—who you will call when you have a breach?
  • Insurance can cover many potential scenarios. Talk with a professional to understand when and how insurance can help protect your business. 

As a wise man once said, there are two types of companies—those that have experienced a cyber-attack, and those that will. Protect your data as you would your home (build a fence, lock your doors) and the hackers just might move on to an easier target.

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What Our Customers Say

The team was calm, knowledgeable, supportive and ensured we were taken care of. If you are looking for a conscientious, customer focused, independent, agency, I can confidently suggest John Allen and Community Insurance Advisors!
JEFF K.
With operating multiple businesses, I am limited on time, but John makes it easy and convenient for me to shop, bind and pay for my policies. When I have any insurance related issues or questions, he is my go to person. He has assisted me with multiple claims issues and stays on top of things when my policy needs renewing. Unlike other insurance agents and companies, John puts his client’s needs first. It has been a great experience to work with them.  
DIPAL P.
Community Insurance Advisors provides a personal touch by being very service oriented. You get to talk to an actual person and decision maker who takes time to answer questions and does not make you feel rushed or unimportant. The few times we have had to leave a message they are always prompt in responding. We get comparable rates, coverages, and advice as to whether or not we should consider other options. It has been a rewarding 10+ year experience and I highly recommend them as an insurance consultant.
CHRISTINE B
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