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When you run a small business, you face many physical risks, like property damage and injuries. But your business also faces risks that come from using technology. These include everything from data breaches to hacking. To protect against those risks, many businesses add cyber insurance to their business insurance policies. Cyber insurance can offer broad coverages to help protect businesses from various technology-related risks. At The Hartford, we offer two different cyber insurance policies: cyber liability insurance and data breach insurance. Data breach insurance helps your business respond to breaches and can offer enough protection for small business owners. Cyber liability insurance is typically meant for larger businesses and offers more coverage to help prepare for, respond to and recover from cyberattacks.

Hiscox can help you protect your business from malware and hackers with cyber security insurance for small businesses. Cyber security insurance protects businesses against computer-related crimes and losses. This can include targeted attacks, such as malware and phishing, as well as the occasional misplaced laptop containing confidential material. If your business computer system is compromised by a targeted or an accidental attack, you may be liable for the cost to notify the affected parties and provide credit monitoring, even if the data is not exploited. You could lose money to a phishing attack or lose business due to a ransomware demand. A cyber insurance policy is designed to cover privacy, data, and network exposures. The list of regulations and statutes continues to expand regarding the use and protection of cyber security information, as well as notification requirements in the event of a breach.