Does your client have Cyber Insurance? Technology is more important than ever.
The COVID-19 pandemic has majorly disrupted the workplace, likely spurring permanent changes to how and where we work going forward. Millions of people have shifted from working in the office to working at home in mere weeks, leaving businesses more vulnerable to cyber incidents like ransomware and malware attacks that can result in expensive disruptions and liability.
This “new normal” has some positive aspects as well. Companies are learning they are more capable than anticipated of operating remotely, which can result in huge cost savings. Many companies are considering operating in a virtual environment even after employees are allowed to return. All of these factors point to the necessity of a comprehensive cyber liability policy, especially one tailored to the unique needs of your small business clients.
Designed for small businesses, ABA Insurance Service, Inc.’s cyber program offers policy limits up to $3,000,000 and retention’s as low as $1,000. First and third party coverage includes coverage’s for crime and funds transfer fraud, ransom and reward payments, data breach response expenses, for PCI violations, reputational harm, lost business income, multimedia liability, privacy liability, and network disruption. ABA’s program also provides small business clients with critical loss prevention services, including evaluating current cyber security needs.
Source – Progressive Insurance