Debunk the Cyber Liability Myths

Debunk the Cyber Liability Myths

If you search cyber losses, youre going to see significant corporations in the headlines. Any time you turn on the news and cyber-crime is the topic of discussion, and youll see renowned businesses, bankers and retail stores as the focus. Unfortunately, the publicity that major companies receive have smaller businesses believing that they are safe. Smaller businesses are less likely to look into cyber liability coverage.

Small Businesses Are Targets

Small businesses need to be educated on how important cyber liability insurance is. With the right education and understanding of cyber-crime, they will be more apt to seek out cyber coverage. Any business that deals with finances and personal information may be a target. Almost half of the cyber crime cases are aimed at small companies.

Business Coverage Offers Protection

Some believe that their insurance covers the cyber loss. The truth is that most general liability will not have cyber protection. Small businesses have to pay close attention to their policies before believing this. While cyber liability is becoming more common, it still has separate coverages.

When cyber loss comes up, most people think of major corporations. The truth is that major corporations are not the only victim. Small and medium-sized businesses need cyber liability coverage also. Without it, the results can be catastrophic for the company.