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Why cyber insurance is critical protection for any business

Digital information is one of the world’s most valuable commodities and is at risk of being attacked, stolen, held for ransom or destroyed. It’s not only the large businesses that require protection against hacks and other malicious activity, any company in possession of sensitive information should have a comprehensive Cyber Insurance policy to guard against cybercrime and data breaches.

Companies in any industry can be impacted. If a company handles sensitive information or holds onto confidential information on behalf of third parties, they carry a risk for the information to be altered or lost, a violation that can cost millions.

Data breaches are one of the most common events covered by a cyber policy. Speak to your insurance broker or agent to better understand your coverage.

Source: https://www.insurancebusinessmag.com/ca/news/cyber/why-cyber-insurance-is-critical-protection-for-any-business-173331.aspx