Cyber protection can keep your business afloat after an unlawful cyber entry. You may hear about high proﬁle data breaches in the news, but you probably don’t think hackers are also targeting YOU. The fact is, sophisticated cyber criminals prey on small business owners. And while your data breach might not make the evening news or cost you millions of dollars, a single data breach event could easily cripple your business.
The stakes are high
The hit to a company’s reputation, and subsequent loss of sales, can devastate a small business owner’s bottom line. Here are some of the remediation costs you may face:
- Notifying customers that personal data was compromised
- Providing credit monitoring services
- Hiring security experts or IT consultants
- Potential lawsuits from customers seeking monetary damages
Every business is a potential target
It’s not just ‘online businesses’ that face this threat. Every business that has access to confidential personal information is at risk.
- Flower shops that accept credit card payments
- Healthcare providers that handle medical records
- Retailers that keep track of customer purchase histories
- Financial planners, tax preparers and accountants with social security numbers or banking information on file.
As cyber-attacks continue to escalate in frequency and severity, you can’t afford not to protect your small business from data breach. Contact us today to make sure your business is cyber secure.
Coverage offered by the CyberFirst Essentials
Information Security Liability (ISL): Up to $250k. Covers defense costs and settlements if a customer sues for alleged failure to prevent unauthorized access to, or use of, personal information OR if you fail to notify customers, as required by law, that their personal data was compromised.
Data Breach Essentials: Up to $100K. Provides reimbursement for direct costs associated with
- Notification to customers or credit monitoring services (often mandatory)
- Crisis management or public relations to help restore your reputation.
- Consulting and forensic fees to identify and resolve the cause of a data breach
- Penalties and chargebacks imposed by credit card companies.
Premiums staring at $120 for basic limits and most small business types. Let us know if you would like to add this coverage to your MasterPac policy!Request MasterPac Quote