Protecting your identity in the internet age is no easy task, especially those who deal with sensitive information about customers or employees. Hackers are increasingly targeting small to medium sized businesses since they are low-hanging fruit in the form of networks with poor security. Whether it’s a stolen computer or an improperly shredded document, data breaches can happen. Smart preparation and the right coverage can make a world of difference in the event of a data breach.
Businesses are not protected unless they have specifically purchased cyber liability insurance. To avoid a data breach in your business make sure you never give out personal information via email, that you monitor your bank accounts for suspicious activity, educate your staff about how to identify suspicious emails and require their passwords to be strong. Here are a few examples of how a data breach can happen:
- Compromised Point of Sale system or computer network
- Stolen or misplaced paper files
- Improper disposal of client records
- Stolen or misplaced computer equipment
When a data breach occurs, your first step should be freezing any account that was compromised. Proper insurance will cover costs associated with a data breach, these could include: the expense to notify every customer who could have been affected and credit monitoring or identity restoration services for all affected individuals.
Don’t leave your business exposed to this serious and growing threat. Talk to a specialist from our commercial team about the right level of protection for your unique needs.