Liability is an organizational risk for businesses of any size. A non-profit that uses online tools to support fundraising activities can be vulnerable to hackers. A corporate website that does not meet best practices for information security could compromise client information and expose a corporation to liability.
Simply publishing content online can open the door to a multitude of potential exposures such as:
Speciality insurance coverage for cyber liability risks is relatively new to the marketplace. The possibility of cyber liability lawsuits is a reality that every business owner should consider. There have been several very high-profile personal information breaches that affected tens of millions of records and will cost the companies involved millions of dollars..
If you rely on an online presence and use e-commerce as a method of distribution or have employees who carry electronics that hold customers’ personal/commercial information, your insurance representative can help you find coverage that will protect your organization.