As companies become more reliant on the internet, they also become more vulnerable to the negative effects of cyber crime.
A cyber attack or malware could have a huge impact upon any business that uses the internet to trade or computers to store information. Websites could be compromised resulting in a loss of business, important data could be destroyed, computing equipment could be damaged and private information could be stolen.
As well as interrupting you ability to do business, you may be forced to repair or replace damaged equipment and may even have to pay out damages to any individuals who have had their private information compromised, all of which could result in huge financial expense.
Though Cyber Liability Insurance can’t stop cyber attacks, it can help support and protect your business in the event a security breach. Typical cover includes the costs of loss of business, data restoration, repairing and replacing damaged equipment and updating or implementing new security, as well as covering any legal fees and payouts you are faced with as a result of the breach.
Even if your business has strong online security, could it withstand the costs of a cyber attack? Get in touch with Hinks Insurance today to find out more about a Cyber Liability Insurance policy.