Cyber Insurance

Tanna Insurance

Cyber Liability Insurance or Data Breach Insurance, as it is otherwise known, is a type of special commercial insurance that can help your business deal with a data breach or cyberattack. It is more common for a cyberattack to occur in a smaller to medium-sized business, where there is a perception that the security systems are weaker than larger corporations, and for this reason, buying cyber insurance can give you the peace of mind needed to ensure your company can survive the impact of such an event.

At Tanna Insurance, we will help you find the best cyber insurance for your organization and protect your customers, your business, and your equipment in the event of a compromise.

Who Needs to Buy Commercial Cyber Insurance?

As an experienced insurance agent, specializing in commercial insurance, we understand that there are lots of options when you insure your business. While people typically believe the larger corporations are most at risk, as we’ve already mentioned, it can be the smaller to medium-sized enterprises that are targeted more often. The cybercriminal’s tactics evolve at a rapid pace. Even with the most advanced data security processes in place, there is still a chance that you might still be susceptible to an online attack.

If you process client data or you take payments online, then you need to consider buying cyber insurance. Here are a few quick questions to ask yourself if you’re thinking about buying a cyber insurance policy for your business.

  • Do you keep any records that contain personally identifiable data?
  • Can your employees access the network from outside the business premises?
  • Do your employees take any company devices (laptops/tablets) outside of the office?

As we’ve explained, a data breach can occur to anyone at any time. In some cases, there is no attack that takes place, and the business simply needs to respond to a data breach from a lost device containing or having access to sensitive data.

What is Cyber Insurance?

Cyber insurance is also referred to as data breach insurance, but there are slight differences between the two. Cyber insurance is essentially there to protect your business from suffering undue financial stress in the event of a data breach or cyberattack. It can give you coverage should your business be held to ransom, covering both the cost of the ransom, along with helping you address the overall management of the problem. Additional coverage is provided with the majority of insurers for things such as legal advice, forensic investigators, credit monitoring for any of your customers, handling the PR and communications about the event, and also to repair or replace any equipment that is compromised as a result of the attack.

When you have the right cyber insurance in place, your organization can recover effectively, and efficiently following a cyberattack. Without this, the cost of repair can soon start to add up.

What types of attacks are covered by cyber Insurance?

Being a specialist commercial insurance agent, we know that cyber insurance can provide quick and essential support to a business when it falls victim to an online attack. In terms of the types of attacks that can occur, they advance and develop at a rapid pace. Different insurers offer slightly different terms, so it’s always important to speak with a member of the team to check what is and is not covered.

Not all types of data breaches will occur as a result of a hacker. In some instances, the breach comes down to an employee error. It happens to even the most astute employees. Here’s a list of the most common types of attacks or events that can be covered by a cyber insurance policy.

  • A system malfunction or error
  • Employee data theft
  • Employee data compromise
  • Employee error
  • Malware attacks
  • Ransomware

Talking with a member of the team at Tanna Insurance is a great way to get your questions answered quickly, and also look at the different levels of coverage that are available to buy.

Request a Cyber Insurance Quote

Buying commercial liability insurance is essential for your personal and professional protection. With so many types of insurance to review, it’s easy to come unstuck or get overwhelmed by the details. As your local commercial insurance agent in Woburn, we offer a personalized service, and we build insurance packages that are tailored to your individual needs.

Why Choose Tanna Insurance?

We’ve been in business for over twenty years with industry experience of over forty. Here are just a few reasons why clients enjoy doing business with us.

  • Trusted and well-established Insurance agent
  • Independent, family-owned and operated business
  • A dedicated team of insurance experts
  • Personal attention and tailored insurance packages
  • Access to many National & Regional companies
  • Outstanding attention to client services

If you want to work with an insurance agent you can trust, the team at Tanna Insurance can help you protect your business, your people, and your assets.