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Computers are so integrated into our businesses today that it is difficult to imagine doing the job without them. Computers allow us to connect with people next door and around the globe. While that interconnectedness has many benefits, it also brings risks in the form of cybercrimes that could derail your business. If you live in or near Zionsville, IN and want to discuss protecting your company against the financial effects of cybercrime, our team at Completely Independent Insurance Agency is here to serve you.
What is Cyber Insurance and How Does It Help?
Commercial cybercrime involves using computers to steal information or keep a business from using its data and computers to conduct its business. Some cybercrimes involve information theft, and others attempt to hold companies for ransom.
Cyber insurance offers protection against the effects of these crimes by covering three types of losses:
- First-party: Reimburses your direct losses, such as the cost to assess an attack and inform clients their data was stolen, as well as lost revenues and potential ransomware payments.
- Third-party/cyber liability: Covers customer or supplier settlements, attorney fees, and losses when an attack on your business harms them.
- Errors and omissions: Often technology-focused, this covers losses others suffer when your products or services include faulty logic or code.
Insurance companies often require businesses to take preventive measures or use specific security practices to qualify for commercial cyber insurance. Others discount the premiums based on the depth and breadth of steps taken.
Working with Completely Independent Insurance Agency
Completely Independent Insurance Agency handles the business and personal insurance needs of people in the Zionsville, IN area. Call us today to discuss how we can help protect your company and personal assets.