Cyber Insurance for Vermont Business
When a cyber attack occurs, it can cause far-reaching damage not only for your company but also your clients and employees. Unfortunately, this is becoming a more frequent event for Vermont businesses. Cyber attacks and data breaches are not covered under general liability insurance. For protection, you will need a separate cyber insurance policy.
A cyber attack can come in a variety of forms, such as a virus, phishing scam, or service interruption. Once a hacker has access to your network, they can steal identifying employee information, credit card data, and other sensitive information to be used in committing other crimes. While many Vermont businesses feel they are too small to be worth hacking, any business with stored social security or credit card information is a target. With so many people affected, the recovery costs can be devastating. With cyber liability insurance, many of these costs can be covered.
What are the Benefits of Cyber Liability Insurance Coverage?
General liability insurance is not designed to cover cyber crimes, and they will be specifically excluded from most policies. The worst time to find this out is in the wake of a data breach, when you are struggling to recover.
Even if you have a liability policy with some data coverage, chance are it will not be sufficient to cover the full scope of a data breach and the ever-changing technologies. The best way to be covered is with a specialized cyber policy.