Protecting Your Restoration Company Against Cyberattacks
According to The Hartford, 31 percent of all data breaches are in organizations with fewer than 100 employees, and about 66 percent of all data breaches investigated were not discovered for months, or sometimes years. The Ponemon Institute found that 72 percent of those who had a breach were unable to fully restore their company's data, and breaches come with costs associated with damage control, legal expenses, and paperwork, which can make it hard to recover. Even small businesses like restoration firms need to protect themselves against cyberattacks because many cyber criminals view small firms as vulnerable. Attacks typically are not targeted; they are opportunistic and can range from unauthorized access and human error to cyber extortion. First party liability coverage can cover expenses that affect the business, such as reimbursement for mailing customer notifications, while third-party liability covers legal expenses resulting from the breach, such as the loss of employees' or customers' personal data.