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Misconceptions About Cyber Liability in PA or AZ

Misconceptions About Cyber Liability

Cyber liability coverage (for data breaches) has evolved from just insurance for information technology companies, to coverage that nearly every kind of business should have.  Any Manor Pennsylvania or Glendale Arizona business not making an effort to protect personal, private information is seriously out of step with the emerging landscape of privacy laws

Cyber Liability Misconceptions:

  • Only large retailers need the coverage - Wrong-- Businesses with fewer than 50 employees are the latest targets of cyber thieves. Often, small businesses fail to have adequate protection, making them an easy target.
  • Basic business liability insurance will cover cyber liability - Wrong-- Traditional liability insurance does not cover your business for internet exposure or data breach.
  • If we have a breach, it is not that big of an issue - Wrong-- A cyber breach can cost tens of thousands of dollars.  All states now have laws that make it the responsibility of the company to provide indemnity recovery help.
  • My company does not store credit card information; therefore I don't have any risk. - Wrong-- Confidential information is defined as any kind of personal information including addresses, email, social security numbers, Federal ID numbers, family member information, bank information and more.

Cyber liability risks are real and every business is exposed. It is time to call us for a review of your business insurance program. At OHL Insurance, we can design a specialized package according to your property, liability, and casualty needs.

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