What Is Cyber Risk Insurance in Indiana

cyber risk insurance in Indiana

Cyber risk insurance in Indiana protects businesses against cyber crimes such as data theft, including the loss of personal and financial information. An increase in electronic criminal activity over the last decade has necessitated the need for this insurance coverage. Hackers are not discriminatory, and even small businesses find themselves the victims of security breaches. This can destroy your operations potentially, as customer and employee data falls into the hands of the wrong people and trust in your business is lost. Nobody wants to continue to solicit a company where their personal and financial data is not protected properly.

Cyber risk insurance in Indiana covers your business against cyber theft by responding to the immediate need for a crisis management plan should a breach occur. If you failed to secure your data adequately, you may become liable for its loss. You will also incur costs to notify your customers of the risk to their personal information; you may even need to pay temporarily for credit monitoring services. You must, of course, update your data storage equipment to protect against future loss, and should anyone be slandered as a result of your data breach, you might be facing a lawsuit. These are just some of the things this additional business insurance covers, so protect yourself today.