If your company is the victim of cybercrime, planned response strategies help mitigate damages to your employees and customers. Threats, security breaches and data loss affect business in all industries, calling for improved security measures. Companies who add big data insurance to their policies can build confidence in their clients while also protecting their future.
Planning for the Worst Scenario
While no organization hopes to be the victim of a security breach, businesses large and small have been targets for network security breaches, malicious viruses and other attacks from hackers. Big data insurance policies protect organizations from lawsuits, while providing resources to address the immediate needs of customers and employees following a breach.
Customize Policies Around Your Specific Needs
Insurance services can customize policies for the unique exposures of your business, as well as the general exposures of your industry. Depending on the design of the policy, coverage can include costs for the following:
- Customer credit monitoring
- Legal and forensic services in the event of a suspected breach
- Regulatory compliance for verified breaches
- Crisis management and public relations
- Expenses for business interruption
- Settlements or judgements as the result of a lawsuit
- Electronic media liability that includes copyright infringement
Instill Confidence in Your Clients
These coverages are just a selection of the protections offered through big data insurance plans. Plans can also help rebuild your company image through crisis management and public relations coverage. Opting to include this coverage in your insurance plans strengthens resources for risk management while building confidence in clients and employees.