Benefits of Cyber Insurance for Your Business

If you’re one of the millions of businesses using some form of technology within the United States, you’re susceptible to cyberattacks. Because the number of documented cyberattacks is steadily increasing every year, it’s important for businesses to protect themselves from hackers, malware, and viruses in every way possible. One of the best ways to prevent a cyberattack from devastating your business is by properly protecting it with cyber insurance. 

3 Benefits of Cyber Insurance

• You’re covered against drastic financial loss: According to Radware, the average cost of a cyberattack now exceeds $1 million. With cyber insurance, your business will be covered for loss of income and extra expenses you incur to help minimize or avoid a shutdown while you’re navigating the aftermath of the attack.

• You’re covered against liability: Cyberattacks don’t just come at a monetary cost, but they come at a reputational cost, too. While your cyber insurance will cover your business’ liability for a data breach involving your customer’s sensitive information, you will likely have to put in an added effort to regain their trust. 

• You’ll have a team of insurance experts to guide you through the process: Navigating the aftermath of a cyberattack can be both scary and confusing. But when you get cyber insurance from Snellings Walters, you’ll have a team of expert insurance professionals there to guide you through any claim processes and answer any questions or concerns you may have. We think of each and every one of our clients as partners, not just as another business interaction, so rest assured that you’ll be able to count on us to help you get through the cyberattack.

Question regarding cyber insurance? We’d love to chat! Just reach out to us here, or check out these other cyber-related articles on our resources page.