Tuesday, 19 July 2016

Two Reasons Why Your Business Needs to Buy Cyber Insurance

Whether you have a big or small business, cyber insurance is one insurance policy to include in your for your business insurance. If you are still in doubt, here are some of the reasons we believe you should buy a cyber-insurance policy.

It’s not as expensive as you think
This is usually one of the biggest turn offs for many small businesses. When they think of cyber insurance, they think of several hundreds of thousands and sometimes millions. The reason for this is because the policy is still very new and there exist several variations of the policies and different insurers offering different premium rates. It is best you consult with a professional cyber insurance expert to tell you all there is to know about the available policies and matching premiums.

It offers more coverage than you know
Most people are not aware than cyber insurance policy can much more than just recovering of data. Policies that offer ‘first party’ coverage go as far as paying the business for things like business interruption, cost of hiring a public relation company for reputation damage and control. For small business, business interruption coverage can go a long way in helping the business stay afloat while it tried to stand back on its feet financially. 

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