A risk that is
not addressed by many businesses in this era of technology is protecting
data. Whether that data is your own data
or that of your clients, it constantly stands at risk of theft or
corruption. We always recommend taking
risk management action such as firewalls, strong passwords, management of
mobile devices, etc. However, one other
risk management action we recommend is the purchase of insurance that will
cover your business for network data breaches, electronic copy write
infringements and computer viruses. We
strongly recommend this to businesses that deal with Personal Identifiable
Information (PII) which are things like dates of birth, social security
numbers, addresses, credit card information, financial information and health
information.
Your typical
liability and property insurance policies do not have the type of coverage that
best protect your business if you were subject to a cyber-attack or stolen
data. There are specialty policies built
to help keep your business going after such claims.
