When Can You Claim Your Cyber Insurance?

Today, data breaches and other cyber-related crimes are becoming prevalent in Frederick, MD and all over the world. Whenever they occur, data breaches can result in major financial implications. Most people tend to think that only large organizations are prone to cyber hacks which is wrong. Even smaller and medium-sized businesses are at risk of being attacked, and that is why Lebherz Insurance provides cyber insurance to both large and small enterprises. A data breach can damage both your business operations and reputation in Frederick, MD. Cyber insurance is always a smart solution to any business.

When Can You File a Claim?

You can file a cyber insurance claim whenever your data is compromised or stolen. However, you will have to prove to your insurance provider that the breach was not as a result of your negligence. For, instance, if the data loss was due to activities of an antivirus, then you’ll have to prove that the affected computer had an updated copy of antivirus at the time the breach occurred. The primary purpose of cyber insurance is to help you regain quick control of your identity and handle any financial repercussions of the data loss or breach without hurting your business. The steps involved in filing a cyber insurance claim include;

  • Call your insurance provider: This is the first thing that you should do when your data is compromised. Contact Lebherz Insurance or your insurance agent and explains the details of what happened.
  • Prepare for the investigation. Your insurance provider will launch an investigation into your claim to determine the extent of the damage.
  • Work with forensic data analysts. Forensic Analysts are experts in detecting and handling data breaches. Consider calling in a forensic analyst to help you with the investigation.
  • Stick to the response plan. A response plan is a detailed overview outlining how you should handle a data breach. Your insurance agent should provide details about the response plan.

Is your business not yet covered by data breach and loss? Contact us today for a cyber insurance free quote.