All types of organizations are vulnerable to cyber risks, whether they are global corporations or small local businesses that rely on technology for their operations. As technology advances, so do the threats that companies face. This is why it is essential for every business and organization to have cyber liability insurance and a robust cybersecurity plan in place to manage and reduce cyber risks. At Truska Insurance, we recognize the complexity of cyber threats and offer solutions to help protect and insure your business assets.
Check out this educational video to learn how a business owner's policy can help your business succeed.
Many companies store their customers’ confidential information, PHI, PII, and confidential corporate information, either for themselves or another company. For example, an employee benefits company may have personnel records for the employees of dozens of companies it serves. This can mean that a single breach presents the potential for a significant liability.
Companies are responsible for keeping their customers' protected health information (PHI) and personally identifiable information (PII) confidential. If this information is exposed in a data breach, the company may face liability. This insurance coverage protects companies from liability to others and reimburses them for expenses related to a data breach. These expenses could include legal counsel and defense, a digital forensics team, notification costs, crisis communications, and setting up a call center and credit monitoring for those affected by the breach.
Cybersecurity insurance policies are less than $1,000 per year. The cost of cyber security insurance is determined by several factors.
Industry:
Businesses operating in industries with a higher risk of cyber threats may require more comprehensive coverage, which can impact the cost of the Cyber Security Insurance policy.
Business Size:
Larger companies with more employees and technological assets to protect may need increased coverage limits.
Coverage Limits:
Customizing your coverage based on your business’s specific needs can affect the cost of your Cyber Security Insurance policy. Higher limits will generally result in higher premiums, but they also provide increased protection against costly cyber incidents.
Cyber liability insurance helps cover the costs associated with data breaches and cyberattacks on your business. These costs can include lost income due to a cyber event, expenses associated with notifying affected customers, costs for recovering compromised data, expenses for repairing damaged computer systems, and more. We provide customized insurance solutions based on your business's level of risk, with coverage options available to address:
More businesses choose Truska Insurance for cyber liability insurance because our services are designed to be better for you, your business , and your employees.
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