You’ve got your ducks in a row when it comes to insuring the physical assets of your business, but what about your digital assets? Data breaches happen all the time and small businesses are juicy targets since attackers expect fewer security measures.

Cyber liability insurance is offered by many providers, and can help protect you from the cost of dealing with a hack. This kind of insurance can provide coverage for notifying users of the breach, paying extortion if hackers hold your data ransom, and reimbursing damage done to third parties on your network.

Some business continuity insurance can cover cyber liability, but if yours doesn’t, talk to your IT professional about what type of coverage you need. They can refer you to a specialty broker or advise you on your current provider’s cyber liability offerings.

By Prasana William