Making the Claim for Cyber Security Liability Insurance
Posted on 10.20.16
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 article, "Making the claim for cyber security liability insurance."
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 COVERAGE
Is your small business at risk?
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
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