The internet has changed the way the world works. Businesses like Just Quote Me wouldn’t be able to function in the same way without it but it does open companies up to additional risk. Any risk is something a business needs protection against and cybercrime and attacks require comprehensive cyber liability insurance for peace of mind in business.
Evidence suggests that the cost of cybercrime will hit a staggering $6 trillion by 2021 and this isn’t just a cost for large businesses. Companies of all shapes and sizes are at risk of cyber attacks and should have the right cyber liability insurance in place to protect them.
Handling the Threat of Cybercrime with Cyber Liability Insurance
There are a wide range of potential risks if your business experiences a cyberattack. Threats include:
- Security breaches which lead to financial or data theft
- Denial of service attacks which lead to loss of access to your online portals, files and/or software
- Damage to the company or third-party systems and websites
All of these types of attack come with costs, both to reputation and in financial terms. You may have to face data recovery costs, client compensation costs and other associated outlays which very few businesses can afford without difficulty. Managing the costs of cybercrime can be avoided if you have the right insurance in place and protect your business appropriately.
Cyber Liability Insurance with Just Quote Me
Cyber liability insurance providers recognise businesses of all sizes are at risk from cybercrime. This means there are policies to suit businesses of all sizes and types. Businesses who are heavily reliant on the interest such as e-commerce stores, may require a higher level of cover than those who simply maintain a small website. It is important to remember this insurance is important whether you’re a frequent web user or not. Your business’ online presence requires protection just as much as it’s physical premises.
At Just Quote Me we have many years’ experience in specialist insurance. Growing as the internet has grown we recognise the growing risks of business online. We can work with you to find the right cyber liability cover for your business.
Contact us today to get your free quotes.