FLIP is pleased to announce that, effective immediately, cyber liability insurance is available to all our clients and can now be included into your existing coverage. In a world where more than 80,000 cyber security attacks occur every day, it’s vitally important to protect your business, and we are thrilled to provide this service to you.
If you are in need of cyber liability insurance and would like to add it to your existing FLIP coverage, you can follow the link below to get covered today. If you would like to learn more about the cyber risk your business has and how to protect yourself from it, just keep reading this article. We’ll teach you everything you need to know!
The Risk of Cyber Crime
Cyber security has become a major concern for businesses in recent years. If your business virtually collects or stores any information—even if it’s just payment information—then you are at risk from cyber crime. With the number of cyber crime cases increasing every year—almost one in four businesses have fallen victim to cyber crime as of 2020—it’s crucial to protect yourself and your customers from the criminals who are currently trying to steal your information.
You can protect your business from the cost of techno-burglary by having cyber liability insurance. If your business information is ever stolen or compromised as a result of cyber crime, you could be protected from paying the thousands—or even tens of thousands—of dollars that your business would legally be responsible to pay as a result.
How Much Does Coverage Cost?
Our cyber liability policy can cover costs that directly affect your business as a result of cyber crime. For just $99 a year, you can add it in your existing FLIP coverage and receive up to $100,000 in first- and third-party coverage should your business information ever be stolen or compromised.
If your business data is lost or stolen as a result of a security breach, first party coverage could pay for the cost of restoring the data or performing IT forensics. It can also cover the cost of notifying your customer base of the breach.
Third Party Coverage
Third party cyber liability coverage can cover costs that come from third-party claims against your business, such as the cost of legal counsel or assistance if you were ever sued as a result of a data breach.
Protect Your Business Today
In today’s world, protecting your business with cyber liability insurance isn’t just a good idea—it’s a necessity. Cyber security is a serious threat that affects hundreds of businesses every day, but with the right coverage, you can create a financial safety net that protects you and your business from paying hefty out of pocket costs. By adding a cyber liability insurance policy to your existing coverage today, you can have the peace of mind knowing that you have the right coverage should need ever arise.