Do you store business-related information on your company’s computer? If so, it’s a good idea to consider adding a commercial cyberinsurance policy to your commercial insurance bundle. Experts say cyberattacks have doubled in frequency since the COVID-19 pandemic. No business in Commerce, GA, is immune, as hackers target not just large corporations but also small companies that aren’t likely to have strong cyberdefenses. 

What are the Options?

There are two types of commercial cyberinsurance. Each policy type covers different perils, so it’s wise to purchase them together. Furthermore, if you store or process a lot of information, and/or your business serves high-end clients, you may want to buy umbrella insurance coverage for these policies to increase your liability limits.

First-person insurance covers your business. If you’re hit by a ransomware attack, it can cover the cost of paying the ransom. It covers expenses related to repairing IT equipment compromised in the attack and having your IT set-up examined by a professional to determine if there are other vulnerabilities that could lead to future attacks. It can even provide business interruption insurance coverage if you have to shut down temporarily while your IT system is getting fixed.

Third-person cyberinsurance, on the other hand, covers the cost of paying fines and settlements if the people affected by the data breach (i.e., customers, business partners, suppliers, etc.) take you to court. It also covers your business’s legal fees. 

Call Hyman Brown Insurance Agency Inc. for More Information

Hyman Brown Insurance Agency Inc. provides multiple commercial insurance policy options to business owners in and around Commerce, GA. Call us today to find out more about our cyberinsurance policy options or to start the process of buying a policy that will meet your needs.