Does your business need Cyber & Data Liability Insurance?
Cyber crime is growing at an alarming rate. According to the Interstate Technology & Regulatory Council (ITRC), in 2019 it was reported that hacking was the most used method of breaching data, with 577 data breaches resulting in 15.3 million records exposed. This form of breach includes intrusion methods like phishing, ransomware and malware, and skimming. Unauthorized access ranked second with 538 data breaches, but this method affected the highest number of records exposed by data breach type—142 million, or 86 percent of all sensitive records exposed in 2019. Employee error or negligence, improper exposure or lost data had the third highest number of breaches, 161, with 2.9 million records exposed.
Do you know the cyber risks to your business? How secure is your data? If you want to protect your clients' information and the reputation of your company, consider the following:
Is your data protected if a laptop is stolen?
Do you take credit card payments or store credit card information for recurring payments?
Do you store personal information about your customers?
Do you have a data breach disaster plan in place?
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