The internet has, without a doubt, boosted business for most business owners through offering the convenience of online ordering and payment options as well as more marketing exposure. Because of the increased cyber exposures specifically regarding confidential customer information entered on websites, businesses small and large rank need a type of Commercial Insurance called Cyber Liability. Many times, owners, managers or even employees own laptops containing confidential customer information. On average, a lost laptop causes a business loss of $49,276, most of the loss being linked to data breach costs.
It is important to mention that Cyber Liability is not included in the Commercial Insurance you typically purchase for your business and if you keep any kind of electronic data and use the internet to conduct business you have a cyber risk.
Click here for more information on this insurance type and to discuss a quote with an agent.
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