Top 5 Reasons Why Vermont Companies Need Cyber Liability Insurance
- It happens to Vermonters - to date in 2015, 128 data breach incidents have been reported to the Vermont Attorney General.
- Notification is expensive – according to a 2015 IBM study, the average cost of a breach increased to $217 PER RECORD. How many customers do you have? Can you afford that, or would insurance be a help?
- In Vermont, you may still be held responsible even if you just process credit card information for payment, and your system gets hacked – you may have legal responsibilities that include notification of everyone affected.
- You lose customers – the same IBM study showed customers leave when their personal data gets stolen from your business. How many customers can you afford to lose?
- Most cyber insurance policies include technical expertise to help you find the source of the problem, and fix it. If you are hacked, do you have the knowledge to find out how it happened, and to prevent it from happening again?
owner at Couture's Maple Shop/B&B
8yGreat comments and questions