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Cyber Liability: Is your Non-Profit at Risk?

By anonymous
January 04, 2012

These days, almost every business is on the web in some way which means that your company may be at risk for a lawsuit. According to the 2009 FBI Computer Crime and Security Survey, 71% of companies in America endangered their financial stability by not having cyber liability  insurance.  Here are a few scenarios for which your company can be held liable:

  • If you pass along a virus or other type of malware, even if it is done unknowingly.
  • If an employee knowingly or unwittingly slanders another company in a form of social media or infringes on copyrighted material.
  • If one of your employees gains unauthorized access to another company’s information or if confidential information is disclosed or misused.
  • If you do not follow federal or state regulations controlling notification of costumers whose personal data has been compromised.

If you think that these claims will be included in your other insurance policies, you may want to read the fine print because rarely these crimes are covered by traditional insurance. Luckily, cyber liability insurance is modified to fit your company’s needs. On another excellent note, this insurance is affordable and definitely costs less than what a successful lawsuit could cost. With all of the information that is on the web and all of the hackers waiting to destroy your business, it is worth it to carry cyber liability insurance.

 

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