Getting hacked isn’t just a hassle. It also poses a potentially huge and unexpected cost to your business.
Cyber liability insurance is a specialized policy that’s customized to cover many of the risks your business faces from an information breach–and even covers some risks you might not have thought of.
Johnny is the manager of a popular restaurant in town. He has access to all the emails the restaurants receive, like the catering email. While checking the catering email for new orders and inquiries, he sees an interesting email from another business in town he’s never heard of.
This company was promoting a product, and Johnny clicked on the link for more information. Suddenly, his computer crashes and he’s notified that malicious software has invaded his computer. He quickly contacts someone who works in IT, and they let him know that all the restaurant’s data has been breached and over $20,000 has already been taken out of the company cards.
The restaurant didn’t have Cyber Liability Insurance because they didn’t think it would ever affect them. Cyber-attacks and data breaches can result in significant financial losses and reputational damages.
Cyber Liability Insurance provides coverage for losses and damages that can happen as a result of a cyber-attack or data breach. Contact us today at SOGO Insurance to get more information on Cyber Liability Insurance and how it can affect your business.