If you’ve been considering a data loss insurance policy, you’re not alone. With so many high-profile data breaches over the last few years, it’s brought a greater awareness to the need for a policy to protect yourself in case the information in your computers is attacked. Here are two considerations that you need to talk to your agent about when buying your policy.
Personal Device Coverage
Employee owned devices are one way that hackers get into your system. If your staff uses their own smartphones and tablets at work or at home to access your network, you have to ask about this when purchasing your policy.
Many policies offer coverage dating back to a certain point in time. Often, a data breach will occur but not be found until much later. You may have had a breach in 2013, but don’t discover this until 2015. If your policy does not have retroactive coverage, it may not cover the loss.
Work With Your Agent
Unlike auto insurance, data loss insurance is not one-size-fits-all. You have to work with someone knowledgeable who understands your industry and the risks you face. It’s almost a team effort, as you bring together the IT department, your agent, lawyers, and staff to implement a strategy that protects your customers and your business while staying within the law and maintaining efficiency. It’s vital to your peace of mind that you get the insurance you need to focus on your business.