Protecting Your Business With Data Compromise Coverage
In the modern era of business, odds are high you are storing at least some of your data digitally. Whether you have opted for a cloud-based server to keep your files secure, are using an email server, or rely on mobile payment software, you have information that is being collected and, ideally, secured digitally.
The problem is that digital breaches are becoming increasingly common. While you may think it is only big businesses that are exposed to this risk, many hackers are targeting small businesses with less rigorous safety procedures in place.
If your data does become compromised, your business would face a significant expense. In most states, if your customers’ personal information is compromised you have a legal responsibility to notify them. You will also need to cover the cost of credit monitoring services to ensure no further damage is done, investigating the extent of the breach, and possible legal fees. Would your business be able to comfortably foot this bill?
Fortunately, if you have data compromise coverage you never need to answer this question! With this type of business insurance, your policy can step in to pick up the tab (up to your policy limits, of course) for the above expenses. In other words, by carrying this coverage you can protect your business against the very real possibility of your data becoming compromised. If your business is storing any sensitive data digitally, this type of policy is important.
Is your business insurance provider staying up to date with the changing risks your company faces? To ensure you are working with someone who knows about and can protect you against the risks of the modern age, contact Scautub Agency. Conveniently located in Scotia, our team of experts is here to ensure you have the data compromise coverage your New York business needs to be fully protected.