Cyber Liability Insurance for Retail
Retail businesses often store information about their employees and customers, including social security and debit/credit card numbers. If that information is lost or stolen, it could leave your business vulnerable to lawsuits, regulatory fines, penalties and a damaged reputation.
Contrary to popular belief, the risk of a data breach is not just a big business problem and hacking isn’t the only way a breach can occur. Consider what could happen if:
- An employee’s car is broken into and a laptop containing clients’ personally identifiable information is stolen.
- An email containing sensitive employee or customer information is sent to the wrong person.
- Client records that include tax identification numbers are taken during a break-in.
Many business owners aren’t aware of the costs associated with a data breach – or the actions they may need to take to address the liabilities they face when paper or virtual records are lost or stolen. If you collect or store any personally identifiable information on employees or clients, you should consider data breach coverage.
The cyber liability coverage we can put in place for you will help pay for costs associated with notifying impacted individuals, managing public relations, good faith advertising and legal liability expenses. Customers also have access to services that can help reduce the likelihood of a breach and assistance to help navigate a breach if one occurs.
According to the 2015 Symantec Internet Security Threat Report 60% of all targeted data breach attacks struck small and medium sized organizations, and of those targeted, 60% go out of business as a result.
Our licensed insurance agents work exclusively with small businesses to put cyber liability policies in place to help mitigate the impact of a data breach or cyber-attack. To request a cyber liability insurance quote today call 844-325-9516 or click below to submit a quote request.