Your first line of defense as a business owner is to educate yourself on how to prevent or mitigate a breach. Follow news reports, and take advantage of
online materials available to help you prepare for and respond to cyber attacks.
Your
local independent insurance agent could be your second line of defense, providing information about internet exposures and insurance products. Any business that handles private information is at risk of breach and subject to cyber exposures. Private information includes personal identifiers (Social Security numbers, birth dates, driver’s license numbers, etc.), financial information (bank or investment accounts, credit cards, etc.), medical or medical claim history, employee personal data or student records.
Companies that use third parties to process their transactions or record keeping, such as payroll, employee benefits or billing, also have the potential for a cyber loss. Consider the possibility of that third party experiencing a data breach where you might be ultimately responsible for the breached records.