Cyber Liability Issues Are Increasing as More Business Is Done Digitally. Cyber Liability insurance Can Help
Did you know that 61% of small businesses have experienced a data breach last year?
Cyber Liability provides coverage for a variety of both liability and property losses that may result when a business collectspersonal information or sells products over the internet. The most common cyber exposure addresses a business’ liability for a data breach in which the business’ customers’ personal information, such as Social Security or credit card numbers, is exposed or stolen by someone that gained access to the firm’s electronic network. The policies cover a variety of expenses associated with data breaches that could affect cannabis businesses, including:
- notification costs
- credit monitoring
- costs to defend claims by state regulators
- fines and penalties
- and loss resulting from identity theft.
Furthermore, policies cover property exposures from:
- business interruption
- data loss/destruction
- computer fraud
- funds transfer loss,
- and cyber extortion.
Discover how a proactive cyber liability policy can help to protect your cannabis business from damages incurred due to hackers, etc. by contacting us via this page now.