When you own a business, there are a number of potential issues that you have to anticipate. With technology being such a major part of any company, cyber problems should be a concern. For example, a data breach is always possible even with superior security protocols. Cyber insurance options from a reputable financial guaranty in California may help to protect you should a breach occur.
A cyber breach may result in confidential customer information getting into the wrong hands. For example, personal contact information, social security numbers, and financial information. This could cause someone’s identity to be stolen or their financial accounts getting breached. Cyber liability insurance would serve to protect you against at least some of the financial liability.
There are different types of policies that you might consider with this. You can usually opt for multiple types of coverage associated with data breaches, such as notification costs, to defend against state regulator claims, identity theft-related loss, credit monitoring and fines and penalties.
Consider your business and if cyber liability insurance might be something that could aid your company. If you decide that this type of insurance is a good idea, shop around and get to know the different companies offering policies, so that you choose the best financial guaranty in California.