At Vargas & Vargas Insurance, we’ve helped many businesses understand cyber risks and secure the right coverage to protect them from devastating losses.
In this article, we’ll explain why cyber insurance is essential, what it covers, and how it can safeguard your business against major financial risks.
Businesses rely on their computer networks more than ever, but those networks aren’t always safe. With so much reliance on these systems, especially for data storage, it’s a good idea for many businesses to get cyber insurance. If you need this type of insurance, call us to find out more at Vargas & Vargas Insurance in Dorchester, MA.
Why Cybercriminals Target Business Data
Business computer networks typically store a lot of data about both individuals and financial information. Many companies have their customers’ financial data, such as credit card numbers and information on bank accounts. These systems also have a lot of personal information about both customers and employees. The employees’ social security numbers and other data are all in there, waiting to be stolen. Stealing data is highly common. Hackers can get into a system and then steal the data or hold all of your information for ransom. It’s easy for someone in the company to make a mistake that causes this to happen. Cyber insurance covers you against these scenarios so that your business is protected in the event of a hack.
How Much Can a Cyber Attack Cost Your Business?
If your company’s data has been hacked, you could face a lot of ramifications. You may owe restitution to all of the victims. You’ll also have to pay a lot to get the system working again and to put protective measures in place. It can be expensive to do all of this, and that’s if you can get your data back. A serious hack could be so expensive that it could sink a small business. With cyber insurance to pay the expenses involved, your business will be much better protected.
How to Get the Right Cyber Insurance Policy for Your Business
Cyber threats are increasing, and every business—big or small—needs protection.
A single cyber attack can cost thousands, damage your reputation, and even put you out of business.
Your next step? Talk to an expert about cyber insurance options tailored to your business needs.
At Vargas & Vargas Insurance, we specialize in helping businesses like yours find the right coverage. Contact us today for a free consultation.
