Using Insurance to Transfer Risk
Information network and data security are expensive and rapidly growing exposures leading to millions of lost dollars, even when business firms have the proper IT security controls in place. Lost laptops, inadvertent emails, physical files containing personal identity information being thrown in dumpsters are examples of exposures that can happen to any firm large or small.
If you manage a company that uses a computer data base or the internet for business activities you may want to ask yourself the following questions:
- If any of the services that you provide should fail/not meet expectations could your customer sue you for damages or loss of revenue?
- Does your product or service interact or house any information that could be deemed private or sensitive?
- Do you help develop content for any of your customers?
- Do your products or services allow for interaction between users on-line?
- Do you have employees that travel outside the U.S. for business?
If you answered yes to one or more of these questions you may have financial exposures for which you may not have allocated the necessary financial resources to, in the event of a data breach or a failure of your technology product or service.
At SciTech Insurance we can help you manage these unique exposures by providing your firm with the proper insurance solutions as a means of risk transfer that will be there when you need it.
Contact us today for a no-obligation business coverage gap analysis!