Yes. The question is no longer if a company will face a digital threat, but when, and no, small businesses are not immune. So long as your business uses cloud-based software, stores customer information, accepts online payments, or otherwise uses digital services, Allied Insurance Managers recommends purchasing Cyber Liability Insurance. Cyber Insurance can help you cover costs relevant to forensic investigations, system restoration, business interruption, credit monitoring, crisis management, and more.
The following companies face an increased risk of cyber attacks, but keep in mind, even if your business doesn’t fall into one of these categories, you can still benefit from Cyber Insurance:
Cyber Insurance policies vary widely, but our team at Allied Insurance Managers will assess cyber risks unique to your business and industry, help you determine what limits you should select, and find the most cost-effective policy that keeps you protected in the event of data breaches, foreign and domestic cyber attacks, phishing attempts, and more. The two primary types of Cyber Insurance we offer include:
First-Party Cyber Insurance covers immediate out-of-pocket expenses that your business directly faces, including forensic investigation, system restoration, business interruption, and extortion/ransomware response.
Third-Party Cyber Insurance covers expenses that others claim they sustained because of a data breach at your business. The types of costs that would fall under third-party include customer notification, credit monitoring, and legal costs.
Allied Insurance Managers has served businesses throughout the U.S. since 1987, long before Cyber Liability Insurance was standard. As the insurance industry evolves, so do we. We work with multiple carriers, which allows us to find policies that are both cost-effective and relevant to your business and industry. Partnering with Allied Insurance Managers means getting the protection you need.
