Cyber Insurance, sometimes referred to as Cyber Security Insurance or Data Breach Insurance, protects your business from the financial fallout of a cyberattack. This can include computer viruses, data breaches, malware and ransomware attacks.
Cyberattacks on small businesses may not make the news as often as attacks on large companies, but many incidents are aimed at businesses with fewer than 250 employees. Even if you think you have strong security practices, breaches can still occur. Common scenarios include lost or stolen laptops, unauthorized access, improper document disposal and theft of sensitive information.
Comprehensive Protection Against Cyberattacks
Cyberattacks may result in:
- Immediate financial costs for emergency IT and cybersecurity services
- Legal fees and potential fines
- Reputational damage and customer loss
- Business interruption and productivity loss (typically not covered by standard business interruption policies)
Fortunately, PIB's Cyber Insurance policies can provide coverage for:
- Ransomware attacks
- Business interruption
- Hardware and software replacement
- Phishing and data breaches
- Breach response costs
- Wire fraud and social engineering
- Fines and penalties
Let PIB help you recover quickly in the event of a costly cyberattack.
Request a quote for Cyber Insurance today.
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FAQs
What is Cyber Insurance?
Cyber Insurance is a specialized policy that helps protect your business from the financial fallout of cyber threats like data breaches, ransomware and hacking incidents.
Do I need Cyber Insurance?
Even small businesses are targets of cyberattacks. Cyber Insurance helps you recover faster from attacks, avoid financial losses and meet legal and contractual obligations.
Why is Cyber Insurance important?
Cyber criminals are increasingly targeting small- and mid-sized businesses. It’s important to protect your business from the financial, legal and reputational fallout from this growing risk.
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