Insurance Insights

Small businesses participating in the bring your own device trend should consider tech insurance, as malware infections on employees’ home PCs can create liability for these companies.

Cyber crimes can hit businesses hard and heavy – especially if your business isn’t actively taking steps to guard against them. Some small business owners may feel as though it’s an unnecessary risk but no business, large or small, is truly safe from the damages cyber crimes have to offer. These are a few practical steps you can take to help ensure your business doesn’t become yet another cyber crime statistic.

These days, millions of small business owners nationwide store large amounts of critical data for themselves, their customers, and their clients, and all that can put them at far greater risk for a data breach that could prove rather costly. That, in turn, may increase their necessities for having tech insurance.

Mobile technology is becoming more ubiquitous all the time, and has become so indispensable to small businesses in particular that the vast majority of those recently polled rely on it in their everyday operations.

Today, many small business owners may be feeling better about the state of their companies and their prospects for growing thanks to the generally improving economy. As such, many are now focusing on their abilities to grow and take better advantage of the technology solutions available to them.

Many small businesses nationwide may be fully aware of the various threats that may exist when it comes to the sensitive data they protect for clients, customers, and workers alike, but it seems that companies of all sizes remain nonetheless relatively unprepared for incidents that could serve to compromise that information.

Small business owners nationwide may be aware that they are particularly at risk for data breaches that can expose massive amounts of information for their customers and clients. To underscore just how real a possibility this is, one of the world’s foremost names online recently announced it had been hit by just such an incident.

“Big data” has become a fairly prominent term in the business community in the last few years, and generally refers to the massive amounts of information being collected on consumers by major tech companies and other firms, which can then be turned into usable reports for specific businesses or other initiatives. And while many small business owners may think this might not be able to benefit their companies, but in reality, there are a number of ways big data can be of use to them.

Millions of small businesses nationwide likely control a large amount of sensitive information for either customers or clients, or even themselves, and in the event that this data is exposed somehow, there can be a substantial amount of liability involved. It is for this reason that many such companies might want to do all they can to increase their security against these incidents, and from the potential fallout as well, and the latter can often be accomplished with tech insurance policies.

Today, small companies are far more vulnerable to data breaches than their larger counterparts, and in addition to this added threat, many who suffer these incidents may also see the people or clients affected by them have more problems in the future.