Friday, 10 June 2016

Does Your Company need Cyber Insurance?

If you are reading this, then you already know what an insurance policy is all about. Although not a new policy, cyber insurance has grown into a mainstream market in these past years. General standard business liability insurance will be able to cover situations like missing office equipment or damage to the office building. When you bring in data loss and other software related problems, you see the aforementioned insurance cannot do much on these grounds.

If in doubt whether your business needs cyber insurance, you would need to sit back and ask yourself some honest questions. How valuable is your business data and how much damage can be done to the business if there is a data loss? Usually questions like these are what guides businesses to find a good cyber insurance broker. If there is a loss and your business can weather the storm all alone without it affecting the running cost of the business, then maybe you can pass off getting the cyber insurance.

Top insurance brokers have long included cyber insurance to their package with the ever increasing attacks recorded yearly. A cyber insurance broker like Greater National Group would be able to help bear the risk in case of any data breach. Even small businesses that hold huge data or that has the dream of becoming big are investing in cyber insurance. While no one prays for such losses or breaches, the true question remains; if it happens, are you well protected?

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