Making the Claim for Cyber Security Liability Insurance

Posted on 10.20.16

Making the Claim for Cyber Security Liability Insurance

On October 20, 2016, Chris Moschella, Keiter's Risk Advisory Services Manager and Cyber Security Services Team Leader presented, Cybersecurity: Demystifying the Essentials for SMBs for the VA Council of CEOs Knowledge Network series. Chris also shared his small to mid-size business cyber security insights in the Council's Leader News articleMaking the claim for cyber security liability insurance.”

Article Excerpt:

It’s no secret that cyber attacks are on the rise, and, like it or not, an attack could have devastating effects on your business. October is Cyber Security Awareness Month, so we wanted to ask: If all systems fail – if your security protocols don’t work and your worst day comes – do you have the right cyber security liability insurance in place to save your business?

Determining the Right Cybersecurity Coverage 

Is your small business at risk?

Richmond Cybersecurity - Richmond CPA Firm Chris Moschella, CPA

We asked Chris Moschella, CPA, Risk Advisory Manager and leader of the Cyber Security team at Keiter. “Literally every company has Personally Identifiable Information (PII) – if not through their own clients, then through the employee information they have to gather each year for tax purposes,” he explained. “Does it mean everyone needs cyber security insurance? Maybe, maybe not. I would say that as the amount of data a company holds on behalf of its clients grows and the amount of sensitive information they house grows, then the need for cyber security insurance increases commensurately.”

Interested in learning more about safeguarding your small to mid-size business from cyber security threats? Contact us. We can help. 804.747.0000.

Additional Cybersecurity Resources:

©2016 Virginia Council of CEOs. All Rights Reserved.

The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.

Posted by: Keiter CPAs

Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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