Call Us  |  Text Us ☰ ˟


Call Us (203) 377-8455
Text Us (475) 256-6940
Logo


  • Products
    • Get A Quote With Nationwide
    • Auto InsuranceImage of right arrow
      • Classic Car
      • Medical Payments Coverage
      • Minor Violation Forgiveness
      • Personal Injury Protection
      • Rental Reimbursement
      • Uninsured & Underinsured Motorist
    • Home InsuranceImage of right arrow
      • Homeowners Liability
      • Landlords Insurance
      • Mortgage Protection
      • Scheduled Property Insurance
    • Life InsuranceImage of right arrow
      • Individual Life
      • Group Life
      • Long Term Care
      • Disability Insurance
      • Second-To-Die Policy
    • Powersports VehicleImage of right arrow
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Snowmobile Insurance
    • Personal Umbrella & Identity Theft
    • Coverage for Specific IndustriesImage of right arrow
      • Accounting Firm Insurance
      • Auto Body Insurance
      • Insurance for Arborists
      • Construction Insurance
      • Consulting Firm Insurance
      • Contractors Insurance
      • Specialty Trade Contractors Insurance
      • Craft Brewery Insurance
      • Healthcare Facility Insurance
      • Healthcare Practice Insurance
      • Landscaper Insurance
      • Law Firm Insurance
      • Life Science Insurance
      • Limousine Services Insurance
      • Livestock Insurance
      • Maintenance Contractors Insurance
      • Manufacturing Insurance
      • Maritime Employers Insurance
      • Media & Advertising Insurance
      • Orthotics & Prosthetics Insurance
      • Pool & Spa Insurance
      • Printers & Publishers Insurance
      • Railroad Contractors Insurance
      • Real Estate Businesses Insurance
      • Restaurant Insurance
      • Retail Insurance
      • Self-Storage Insurance
      • Septic Contractors Insurance
      • Specialized Truck Equipment Insurance
      • Technology Services Insurance
      • Water Well Drillers Insurance
    • Coverage for Your BusinessImage of right arrow
      • Business Insurance
      • Leave Management
      • Loss Control Insurance
      • Marine Insurance
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Inland Marine Insurance
      • Professional Liability
      • Workers Compensation
      • Bonds
      • Fidelity Bonds
      • Surety Bonds
    • Coverage for Your EmployeesImage of right arrow
      • Small Business Retirement Plans
      • Employer-Sponsored Retirement
      • Group Benefits
      • Group Disability Insurance
      • Voluntary Benefits
      • Retiree Health Coverage
      • Group Health Insurance
      • Disability Insurance
      • Individual Life Insurance
    • Coverage for Your FarmImage of right arrow
      • Crop Insurance
      • Farm Owners Insurance
      • Farm Livestock Insurance
      • Equine Insurance
      • Farm Equipment Insurance
      • Farm Dwelling Insurance
      • Farm Structures Insurance
      • Farm Auto Insurance
      • Farm Umbrella Insurance
      • Farm Liability Insurance
  • Get A Quote
    • Get a Quote
    • Nationwide Express
  • Blog
  • Resources
    • Refer a Friend
    • Payments
    • Claims
    • Carriers
    • Insurance Glossary
  • About Us
    • About Us
    • Testimonials
    • Switching Insurance Companies
    • Employee Directory
    • Privacy Policy
  • Contact Us
    • Contact Us
    • Our Location
    • Leave Us a Review
Home > Blog > Effective Ways to Protect Your Business’s Cyber Networks
MONDAY, JUNE 6, 2022

Effective Ways to Protect Your Business’s Cyber Networks

 No matter what data you store on your business’s computer systems, any loss could be harmful in multiple ways. Not only might the business suffer, but so too might customers whose private information the business holds on its systems. As a result, it’s imperative that you both protect these systems as effectively as possible and have appropriate remedies for potential losses. 

One of these remedies might be a cyber security insurance package. There are several types of coverage available, each of which can apply to various losses and liabilities you might face as a result of data security incidents. However, that doesn’t mean you shouldn’t do what you can to protect data. 
smart phone with a lock icon on the screen
Proper Commercial Data Security 
Any breaches or damage to your data could cause significant financial challenges. Therefore, it’s in your best interest to always protect your systems through multiple risk management practices. 

  • Use strong encryption and security programs. These should include virus scanners, firewall protection, phishing blockers and other control systems.
  • Require password access for all employees, and if necessary, assign different passwords to different users. You can also restrict access to certain areas based on an employee’s credentials.
  • Train your employees in data security. Make sure they know that they should never share their log-in information or access risky sites or programs on the system. They should also know when to recognize that a data security incident has occurred and what to do to control of the issue. 

The Benefits of Data Security Insurance 
No matter how much you do to protect your data systems, it only takes an instant for a data breach to occur. Therefore, financial losses could accumulate quickly.  

All the same, a quality data security insurance package can help you with some of the costs that might arise in these circumstances. The policy might pay for: 

  • Notifications costs accumulated because you might have to alert industry regulators and customers that the data loss occurred.
  • Identity theft protection for third parties affected by the data losses.
  • Business interruption costs, which reflect the revenue lost as a result of the breach.
  • Costs of repairing data systems and recovering data lost in the breach.
  • Claims of privacy invasions made by others who allege that your business mishandled their private information. 

Your policy will also cover certain instances of cyber crime such as ransomware attacks or impersonation schemes, where a dishonest party steals data from the company by claiming to be someone they aren’t. However, the policy won’t cover criminal acts committed by the business or by its employees.  

Other losses, such as data transfer issues or issues that you had prior knowledge of, will not have coverage either. Therefore, it’s still imperative to do all you can to keep a strong data management program in place. By doing so, you might never have to face the risk of a data security incident. 
Posted 10:35 AM

Tags: cyber security
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020

  • insurance(7)
  • coverage(7)
  • commercial(4)
  • policy(3)
  • liability(3)
  • auto insurance(3)
  • business(3)
  • home insurance(3)
  • flood insurance(2)
  • bop(2)
  • business owners policy(2)
  • cyber security(2)
  • business insurance(2)
  • commercial auto insurance(2)
  • auto(2)
  • commercial general liability(1)
  • workers compensation(1)
  • general(1)
  • homeowners(1)
  • compensation(1)
  • rates(1)
  • damage(1)
  • builders(1)
  • collision(1)
  • owners(1)
  • professional(1)
  • credit(1)
  • risk(1)
  • commercial general liability insurance(1)
  • car(1)
  • builders risk insurance(1)
  • workers(1)
  • flood(1)
  • professional liability insurance(1)
  • score(1)

View Mobile Version
Logo
Quick Links
Home Get a Quote Payment Options Claims About Us
Refer A Friend Our Carriers Blog Contact Us Leave Us a Review
Location
6580 Main St
Suite 201
Stratford, CT 06614

Phone: (203) 377-8455
Fax: (203) 375-9938
Social Social
© Copyright. All rights reserved.
Powered by Insurance Website Builder