CYBER SECURITY and SENSITIVE DATA
Unfortunately, the likelihood of a cyber attack on your business is no longer an “if” but a “when” scenario. Most, if not all, businesses use technology to varying degrees of severity in their everyday operations. There are some unanticipated exposures that should be kept in mind when making a determination on whether or not cyber coverage should be purchased and if so, what type of coverage is provided.
Does your business store or archive sensitive customer or employee data? Credit card information, social security numbers, drivers license records, addresses, and many other sensitive pieces of information that could be destroyed or worse, stolen and sold on the black market. Certain policies offer provisions for responding to the initial attack and informing customers and clients the information was accessed and/or compromised as well as providing things such as credit monitoring services to those affected.
This is just one of many “not often thought about but extremely important” details to keep in mind when searching for a policy that would protect you and your business. Be sure to discuss scenarios like this with your PUI representative to ensure you’re getting the coverage you need.