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46% of all cyber breaches impact businesses with fewer than 1,000 employees. Cyber insurance is a type of insurance policy designed to protect businesses from losses due to a cyber-attack or data breach. It covers various potential risks, including hacking, malware, data loss, and cyber extortion to name a few.
What does it cover?
Cyber insurance protects businesses from any financial losses they may incur due to a cyber attack. Only some events or incidents are covered, so it's essential to work with companies who understand the risk of threats in the cyber world today. Without cyber insurance, businesses can be left vulnerable to substantial financial losses due to a data breach or cyber attack. Cyber insurance can also cover the costs of legal fees, investigations, or regulatory fines that brands may incur due to a data breach.
What does it not cover?
It's important to note that cyber insurance does not cover all types of cyber risks. It does not cover physical damage due to a cyber attack or any losses from a company's negligence or mistakes. Many eCommerce brands may think that their general business liability insurance is enough to cover them in the event of a cyber attack. However, this is different. General business liability insurance only covers physical damage due to accidents or negligence, and it does not cover any losses due to a cyber-attack or data breach.
Peace of mind
Cyber insurance is essential for any eCommerce brand. It provides financial protection in the event of a cyber-attack or data breach and can help cover the costs of any legal or regulatory fines that brands may incur. For any eCommerce brand, cyber insurance is a must-have to ensure their financial security and protect their customers' data.
Dreaming Code is committed to guiding and supporting our customers to find the right comprehensive cyber insurance for their needs. We understand the importance of security and want to ensure our customers are fully protected. Contact us today to learn more about our cyber insurance solutions and how we can help protect your eCommerce brand.
To learn more about how we can help your business, schedule an appointment with one of our solution experts today.
To learn more about the Dreaming Code eCommerce platform visit: http://dreamingcode.com.