Friday, 10 June 2016

Facts to Know About Cyber Insurance

This era of the World Wide Web has brought about innumerable blessings to individuals, businesses, and government in general. It opened a whole lot of unimaginable opportunities that have been harnessed and still being harnessed each passing day. As the internet grew into what it is today, businesses saw an opportunity to take their brand, products and services beyond the confines of their locality. With this arose a new demon of cyber-attacks. Cyber-attacks have caused damaged running into billions of dollars in the past few years alone.

The only viable protection for these small and big businesses was to get themselves covered by cyber insurance. All over the world today, there are lots of cyber insurance brokers who make it their duty to share the risks for affected businesses. Top cyber insurance brokers at Greater National Group (GNG) have shared some lights into what cyber insurance truly entails.

There is a huge difference between your umbrella policy and cyber insurance. Usually these general umbrella policies cover only physical damages. Cyber-attacks are more software related than physical. In case of data loss or breaches, cyber insurance is what gets your business covered. General umbrella policy does not usually include any form of electronic losses.

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