Cyber Insurance in Moncks Corner, SC

Cyber insurance may be among the most important investments a business ever makes. These policies can provide critical coverage in an increasingly digital world, providing financial security and peace of mind as your workplace implements various technological advancements. However, cyber insurance can be complicated, making it necessary for your organization’s leaders to conduct their due diligence.

Is Cyber Protection Insurance Worth it?

Cyber insurance coverage may go by several names, including cyber protection insurance and technology E&O insurance. Regardless, these insurance products generally serve the same purpose: to financially protect policyholders from the financial ramifications of data breaches and cyber incidents, such as phishing schemes, malware infections, ransomware attacks and other cyberattacks. Given the increasing activity of cybercriminals in recent years, the premiums for an adequate cyber insurance policy are generally well worth the potential relief your organization can garner following an incident.

Who Should Get Cyber Insurance?

Companies operating in sectors not known for heavily relying on technology or regularly operating in cyberspace may now manage and store sensitive data, creating inherent cyber risks and exposures. Furthermore, cybercriminals have expanded their target selection in recent years. Whereas small- and medium-sized enterprises may have previously been unattractive targets for hackers, perpetrators may now see them as particularly vulnerable. So all organizations, especially those that work with sensitive data (e.g., health records and financial information), should prioritize cyber insurance.

How Much Cyber Insurance Do I Need?

Cyber insurance needs are often unique among businesses, depending on many factors. By working with qualified cyber insurance companies, your company can better assess its circumstances, such as the amount and type of data you store, the sector in which you operate and your existing cybersecurity measures. It’s critical to ensure you are not underinsured, as cyber incidents with losses exceeding your policy’s limits could incur potentially catastrophic out-of-pocket losses.

How Can I Get Cyber Insurance?

At Carey Insurance LLC, our dedicated staff is standing by to help your business acquire the right cyber coverage. Contact us today to get started.