What is Cyber Liability Insurance?
Cyber Liability Insurance protects your business when electronic networks are breached that contain personal information.
Today, we live in a society that is heavily dependent on electronic networks. Credit card companies, mobile apps, servers, and other devices connected to the internet store large amounts of information in electronic databases. Most of the time, this data contains sensitive information that can be detrimental if in the wrong hands.
What Defines a Network Breach?
Many of us have faced a network breach in our personal lives. For example, most people have had to deal with the repercussions of having their Facebook profile hacked or getting a nasty virus on their laptop.
The three common security breaches that businesses need to be aware of are when:
- A person authorized to service a computer network is denied the ability to do so.
- Someone accesses an electronic network without permission.
- A virus is transmitted or purposely delivered to a computer network.
Therefore, your business needs robust protection systems to ensure that company data and personal information are secure.
Protect Yourself and Your Business
Overall, all industries, including retailers, cloud storage providers, and financial institutions, are susceptible to Information Security Liability. When most businesses rely heavily on computer networks to store data, it is crucial to understand the three ways that personal information can be compromised and how to protect yourself.
Contact Steve Longenecker (303-808-9351, x2) at Mountain Insurance: Longmont to review your commercial insurance coverage in Longmont, CO, or our neighboring communities.
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