In the digital age, the risk exposure of storing important information online is higher than ever. According to Mark Cavitt of the Oakland Press, in 2018 there were over 7,500 victims who collectively lost $81 million due to cyber crimes in Michigan. Is your business prepared for a cyber breach? If you’re a businessowner reading this and thinking no, it is a good time to go check your business insurance policy, and make sure you have cyber liability insurance.
At TDA Insurance, your trusted insurance advisors recommend that any business that stores data electronically carry this coverage. Cyber liability coverage will give your protection to any first party coverage, which covers you for direct losses from a hacker, and third-party coverage, which covers claims against you for people injured in result of the hack. Call us today for coverage expertise and best practices to prevent your business from a breach.