Internal Protection with Network Insurance for Small Business Owners

A lot of businesses, both big and small, need to have a secure network infrastructure in place to facilitate their everyday operations. Yet it only takes a single malware-infested computer to bring the entire system down and undo a company’s good name. According to The Hill staff writer Julian Hatten, additional measures are needed to protect businesses from such a risk:

Lawmakers have been unable to pass legislation to deal with the stream of hacks at major stores and websites, but the government may be able to do some good by helping out the insurance market.

Analysts and brokers say the federal government should do more to help bolster the market for cybersecurity insurance, which would lead to stronger networks and make people’s data harder to steal.

Cybersecurity worries are growing following the theft of celebrities’ nude photos, a hack at Home Depot that may have exposed tens of millions of people’s credit card information and a breach of HealthCare.gov. Industry supporters hope the time is right for the country to take a new look at their offerings.

While data gathering and storage technologies have vastly progressed over the years, Hatten notes that these tools can also be used for nefarious purposes. This is certainly a common theme in pop culture, with the newly released videogame Watch_Dogs as a prominent example. When you are thinking of making your business better but want to hold all the right IT cards, a provider of network insurance for small business owners like InsureYourCompany.com will be ready to help.

Cybersecurity insurance is designed to compensate companies targeted by data breach attacks. Depending on the policy premium amount, the insurance will pay out on the potential damage incurred as a result of any hack incident. Hatten notes, however, that the lack of network security protocols may drive the premiums higher when assessed by an insurer.

On the other hand, a small business protected by an airtight cybersecurity system as well as the right technology insurance product can give customers peace of mind that their details remain safe from those with malicious intent. These protective measures can also provide added assurance to prospective clients.

A technology insurance specialist, such as someone from InsureYourCompany.com, would have the capability to craft a far-reaching insurance policy according to your business infrastructure. Such a policy can branch off into other components like professional liability, standard business insurance, work compensation, and staffing. The last one is rather important, especially if you are hiring a dedicated IT professional to manage your network or train your employees in network protection.

(Source: Hack attacks spur calls for cyber insurance, The Hill, 6 September 2014)