As a business owner, data can be one of the most important assets to your business. Risks include privacy leaks, fraud and data breaches. Protect your assets by preparing for a data breach.

10 reasons why you need cyber liability insurance:

1. Although data can be one of your most important assets, it is not covered by commercial property policies.

2. The third party data that you are responsible for is valuable and you can be held liable if you lose it.

3. Laws are evolving. For example, if you are a retailer you can face penalties if you lose credit card data.

4. System down time is excluded in standard business interruption insurance.

5. Social media claims are on the rise because of the instantaneous exchange of information to the world available through these outlets. Cyber liability insurance can help provide coverage for claims arising from leaked information and defamatory statements.

6.  Cyber crimes is the fastest growing crime in the world but most attacks are not covered under standard commercial property insurance.

7. It is not just big business being targeted by cyber crime; small businesses are at risk as well.

8. Laws are continuously being introduced. If your business has lost sensitive information it is your responsibility to notify the affected parties. Cyber liability insurance can provide coverage for the costs associated with doing so.

9. Portable devices increase the risk of a breach.

10. Your reputation is your number one asset. You need to protect it by preparing for the unexpected should a data breach occur. You can rest assured knowing that your business and your data is protected.

Working with you and your business to prepare for the future… that’s the Roughley Advantage.