You May Require Electronic Data Liability!
Imagine this scenario: One of your salespeople stops for lunch. When they return to their car, they see their side widow broken and their laptop is gone! Those thieves now have access to all of your clients’ information, including their payment methods, bank accounts, or possibly their personal identities. Not so hard to imagine, is it?
The theft can spell trouble for your business, not to mention lost time and energy spent trying to protect old data, including your clients’ information. It is very likely that a lost laptop could mean a lawsuit for your company. Without insurance for these events, a business could quickly go bankrupt paying out damages to clients.
Any firm holding sensitive client information on the internet, on computers, or over private networks should discuss adding an “Electronic Data Liability Coverage” to their insurance plan. The purpose of the plan is to pay for the business’s defense and for any settlements or judgments against the business, when clients sue for failing to safeguard their personal information.
