Cyber-Insurance

Lazy Days of Summer and Your Business

Protecting Your Business Online…Even While at the Beach!

As technology advances, and more and more companies set up shop online, the operational risks that face businesses day-to-day are changing at a breakneck pace. Whereas criminals used to break into warehouses and steal physical inventory, they’re now hacking into businesses online and causing trouble over the internet. Recent high-profile cyber-security threats like Wannacry and others have dominated headlines this year with companies, businesses, and even hospitals being attacked remotely over the web. The stakes are higher than ever for business owners looking to protect themselves against these sorts of incidents, which is why we’re taking a moment today to talk about the ins and outs of commercial cyber insurance.

Protect Everything You’ve Worked to Build

Here in Calgary, we’re home to the second-highest concentration of small businesses throughout all of Canada. That means that we’re a particularly attractive target for cyber criminals all across the province, the country, and even the world, given that small businesses often represent easy, “soft” targets for hackers. This is due to the unfortunate fact that most small businesses simply do not bother with cyber security, or lack have the capacity to protect themselves to the extent that big corporations are able to.

Don’t think that just because you’re a small operation, you’re flying under the radar. If you’re online, or have data stored in the cloud, you’re at risk. That said, there’s no reason to fly into a panic, either. You don’t need to be spending your days agonising over your business’s online assets while trying to enjoy some time at the lake this summer. Instead, take a moment to learn about and invest in commercial cyber insurance, and put your mind at ease!

How Commercial Cyber Insurance Can Protect Your Business

While commercial cyber insurance won’t provide your online files with any additional encryption, or recover data deleted by viruses or malware, it can help you get back on your feet much more swiftly after an attack. In the situation of a breach, commercial cyber insurance:

  • Protects you against lawsuits. In the event that any sensitive information is stolen, such as personal client information, credit card numbers, or other similar sorts of data, commercial cyber insurance will protect you and your business from being sued as a result.
  • Covers for any downtime. If your business ends up being down for a significant amount of time as the result of a cyber-attack, having the proper insurance in place will cover any losses that you might incur otherwise.
  • Gets you back up and running, quickly. Commercial cyber insurance works for you to get your business back online and operational as soon as possible, and covers the costs of any recovery efforts such as network overhauls or forensic IT work that need to be done.

Don’t spend your vacation worrying about a data breach. Instead, give us a call at Lucas & Wright, and we’ll be happy to set you up with an insurance plan that will protect your company’s online assets, so all you’ll need to worry about this summer is what level of SPF to use!

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