What if the company that took years to build could be damaged in seconds? What if your small business' most personal, private and protected information was released to the public? What if you had to spend hundreds of thousands to cover the cost of a crime you didn't commit?
Now, relax, relax... it hasn't actually happened. But if the thought of these situations has your stress level skyrocketing, you may want to learn more about cyber insurance. Because if the worst were to happen, there's coverage that could help—coverage that could make the difference between shutting down completely and continuing business as usual.
What is cyber insurance?
Cyber insurance is designed to protect your business if it's ever the victim of a cyber crime.
What does it cover?
If your company's data is breached, standard cyber insurance will cover:
It could help you pay to notify those affected, recover the stolen information and even hire a PR agency to put your business back in a positive light.
How can private information be exposed?
For small businesses, think angry employees, computer viruses and internet hackers. Information can also be exposed if portable electronics (flash drives, iPads, laptops, etc.) are lost or stolen.
What kind of information is at risk?
Any information in your database could be compromised, such as:
Who needs it?
Most large businesses have a budget set aside—reserved for the worst. They have dollars that could cover data breaches or information leaks, but most small businesses don't. If you couldn't afford potential investigation, lawsuits, information retrieval, crisis management or loss of business, you should have cyber insurance.
Who's at risk?
Regardless of size, scale or industry, any business could be affected by cyber crime. However, most hackers target businesses that employ fewer than 250 people. (Here's looking at you, small businesses.)
How common is cyber crime?
In the U.S., there are 34,529 known computer security incidents every day. Of those cyber crimes, 62 percent target small businesses specifically.
Won't my standard commercial insurance cover me?
When it comes to your building and its contents, commercial insurance has you covered. But when it comes specifically to cyber issues, you need a policy that picks up where the other leaves off.
What happens if I'm not covered?
Without cyber insurance, you and your business would be held solely responsible for any costs and charges.
What can I do to keep my company information safer?
Want to take some precautions? Luckily, there are a few proactive things you can do to safeguard your small business, like:
Ready to protect your small business with cyber insurance? Please call one of our agents to discuss your individual situation.
Use our handy online form to submit a claim any time, anywhere, 24 hours a day, seven days a week.
For your convenience, we have provided direct links for you to pay your premiums to your carrier(s).
Use our online form to request a quote for homeowners insurance, auto insurance, and more.
68 South Huron Road
P.O. Box 99
Linwood, MI 48634
(989) 697-4424 (fax)
110 N James St
P.O. Box 746
Standish, MI 48658
(989) 846-9981 (fax)
9899 Saginaw Street
P.O. Box 386
Reese, MI 48757
(989) 868-4096 (fax)
219 W. Third St.
Pinconning, MI 48650
(989) 879-6090 (fax)
Thank you for contacting Owen Moore Agency, LLC. One of our representatives will contact you as soon as possible to discuss your needs.