3 Types of Cyber Insurance You Need to Know About

As the world becomes more digitized and cybercrime increases, the need for cyber insurance is something businesses should not overlook. If your company handles, transmits or stores sensitive data, you need to know about cyber insurance.

Cyber insurance is intended to protect businesses from the monetary losses arising from a cyber incident that could jeopardize their future.

Why Your Business Needs to Prepare for Cyber Incidents

As the world becomes more digital, so do the risks of conducting business online. Cyber incidents can happen to any business, regardless of size or industry, and can have serious consequences.

The following are some examples of common types of incidents to look out for:

Phishing

Phishing is an online scam in which criminals send emails or instant messages falsely claiming to be from a legitimate organization.

Cyber Incident Prevention Best Practices for Small Businesses

As a small business owner, you may think you are “too small” to be the target of cybercrime because you aren’t a large, multimillion-dollar company. However, this couldn’t be further from the truth. Although the media mainly focuses on attacks on big businesses, small businesses are low-hanging fruit for cybercriminals.

How to Use Technology to Build Trust

Small and medium businesses that view technology as an investment are finding that they’re able to use technology to build trust with their employees, customers and vendors. But investing in technology can be daunting – it’s not cheap and it takes time and effort to maintain it.