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July 5, 2021

If your business suffers a data breach, customer notification costs can be astronomical! Are you prepared?

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Your company, like most businesses, probably uses computers to send, receive, or store data. This type of data might be your own unique information or other information belonging to clients, employees or vendors. If the data is lost, stolen or damaged due to a security breach, you will have to notify the parties affected by the data breach. Is this an expense your company can handle?

In most states, after a cyber-attack that may involve customer data, you must notify customers of the breach. The notification process may be expensive, especially if your business has a large list of customers. Cyber Liability Insurance can cover the cost of notifying your clients and customers (voluntarily or as required by law) affected by a data breach. It may also cover the cost of providing credit monitoring services and establishing a call center.

When your business is covered by the addition of Cyber Liability Insurance, you can protect your business from claims and expenses resulting from data breaches and cyber threats. The professionals at Koch Insurance will consult with you about your business’s unique needs, answer questions and help create the right insurance policy for you and your company. A comprehensive insurance plan including Cyber Security Insurance will leave nothing to chance and your business can continue to grow with peace of mind.

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