Small business owners have many choices for business insurance. Our analysis of 28 complaint records revealed that
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Cyber liability insurance, also known as cyber insurance, protects small businesses against the high costs of data breaches and malicious software attacks. It covers customer notification and credit monitoring as well as legal fees and penalties.
Why small businesses should have cyber-insurance?
Data breaches, cyberattacks, and hacking have become more frequent and more costly. Many small businesses lack cybersecurity making them attractive targets.
Cyberattacks may cause serious damage to your organization. 60 percent of companies are actually shut down due to cyberattacks within six month. Insurance can also cover attorney fees and fines.