Cybersecurity Isn’t Optional: Protect Your Business with Cyber Liability Insurance
When the holiday shopping season was just getting underway, Rokenbok, a toy company, faced a devastating cyber attack.
Hackers encrypted the company’s files, demanding a ransom to unlock the data. Each day, Rokenbok lost thousands in missed orders. And this wasn’t their first incident. Earlier that year, a denial-of-service attack had shut down their website.
“I sweated that one,” said CEO Paul Eichen in an interview with The New York Times. “Customers’ first impressions are critical.”
It took four days to recover the encrypted data, but the hackers were never caught.
Cyber Attacks Are a Matter of “When,” Not “If”
In today’s data-driven world, cyber threats aren’t reserved for large corporations. Businesses of all sizes are at risk. The average cost to recover from a data breach has risen to $6.5 million per incident.
From a stolen laptop to an innocent employee mistake, a cyber attack can trigger devastating financial and reputational damage, impacting your business for years.
How Cyber Liability Insurance Can Protect You
A comprehensive cyber liability policy from Sprouse Insurance/OneDigital ensures your business is protected from the unexpected. Coverage includes:
- Data Compromise Protection: Safeguard employee and customer data against theft, hacking, corruption, or internal fraud.
- Legal Costs: Coverage for legal reviews and defense in the event of a lawsuit.
- Forensic Services: Support to identify the scope and perpetrators of a breach.
- Personal Services: Resources for affected individuals, such as credit monitoring, helpline services, and case management for identity theft victims.
- Public Relations Support: Assistance in managing the impact of a breach, including communications with customers and stakeholders.
- Identity Recovery Protection: Help restore credit records for employees, owners, and family members impacted by identity theft.
Recover What’s Lost
Our policies also help cover costs related to:
- Data Restoration: Rebuilding your systems and data to pre-attack conditions.
- Business Interruption: Reimbursement for lost income and unexpected expenses.
- Public Relations: Professional support to navigate external communications and maintain your reputation.
Who Needs Cyber Liability Insurance?
Every business reliant on data, whether small or large, should consider cyber liability insurance. This includes nonprofits and retailers. You may even save by bundling coverage into a comprehensive suite of business liability solutions.
Why Choose Sprouse Insurance/OneDigital?
We understand the unique risks your business faces in today’s digital age. Our team works with you to assess vulnerabilities and craft a policy that provides robust protection without unnecessary costs.
Click the Request a Quote button now and let Sprouse Insurance/OneDigital help you build a shield against today’s most pressing cyber threats.