?? Is Your Cyber Insurance Policy Comprehensive? ??

In today’s digital world, small and medium-sized businesses face increasing cyber threats. A single breach can be devastating, impacting your finances, reputation, and customer trust. That’s why a robust cyber insurance policy isn’t just a good idea—it’s essential.

Here’s what your cyber insurance policy should cover:

1. Data Breach Response: Coverage for notifying affected parties, providing credit monitoring, and managing public relations.
2. Ransomware Attacks: Coverage for ransom payments, business interruption losses, and data restoration.
3. Regulatory Fines & Penalties: Protection against fines for non-compliance with data protection laws like GDPR or CCPA.
4. Third-Party Liability: Coverage for legal fees and damages if your breach affects clients or vendors.
5. Business Interruption: Compensation for lost revenue and additional expenses while recovering from a cyberattack.
6. Cyber Extortion: Coverage for costs associated with negotiating with and paying cybercriminals.
7. Social Engineering: Coverage for losses from phishing, impersonation, and other scams targeting your employees.

Why it matters: Cyber risks are evolving—your protection should too. Review your policy regularly to ensure it covers today’s threats.

?? Pro Tip: Work with an experienced insurance broker who understands SMBs' unique risks to ensure your cyber policy is comprehensive.

Is your cyber insurance policy up to date? Let’s discuss how to protect your business in today’s digital landscape.

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