Cyberattacks are on the rise, and any business can be the target of cybercriminals. As a result, you need a way to protect your business against any cyber incidents. One of the ways to protect your business is by getting cyber insurance coverage.
Law Firm Cyber Insurance
If your law firm has been the victim of a cyberattack, you are legally required to inform all affected parties. You may also have to invest a lot to fix your security infrastructure and cater to legal challenges and penalties. A cyber risk insurance policy from Hartford Steam Boiler and Insurance Company (HSB) can offset the cost of revamping your cybersecurity systems and pay for any legal penalties.
HSB offers dynamic insurance and reinsurance coverage, including data and cyber risk, contractor error and omissions, employment practices liability, and identity theft insurance.
Hackers may use malicious software such as ransomware to lock your legal files. These attacks are increasing in frequency, and law firms must find ways to recoup losses related to cyber extortion. That is why most law firms transfer these risks to an insurance company by buying a cyber liability insurance policy.
Non-Profit Cyber Insurance
Hackers are not only targeting profit-making businesses, but they are now going for non-profits as well. These interruptions can cause disruptions and waste precious time and money. CyberPolicy can suggest the right solution so that your non-profit doesn't have to budget for additional operational costs in the aftermath of a cyberattack.
Once your non-profit has recovered from the effects of the cyberattack, you may decide to conduct an investigation. The costs of this forensic audit may spiral out of control, especially if the cyberattack was highly sophisticated. Thankfully, you can offset the cost of the cyberattack with CyberPolicy's help. CyberPolicy caters to organizations on a tight budget by giving you insurance quotes from a myriad of agencies. This way, you can find the policy that best fits your organizational needs and budget.
Universal Cyber Insurance
An organization that a cyberattack has just hit will often face legal challenges or seek legal redress. Either way, the ensuing legal process will be costly and can easily bankrupt your business. AmTrust's cyber insurance can pay for your legal cases and compensate individuals affected by the cyberattack. They also have a plethora of insurance options for businesses big and small ranging from workers compensation, state disability, specialty programs, and business owner policies.
Cyberattacks are increasing, and preventing their occurrence is becoming difficult and costly. It is time to start searching for cyber insurance that will get your business back on its feet in the aftermath of a cyberattack. We recommend AmTrust for most businesses, Hartford Steam Boiler and Insurance Company for law firms, and CyberPolicy for non-profits. Contact us for more information.