Many companies today don’t realize that nearly half of their assets may be digital data. Some of the problems that can happen may be caused by hacks or viruses that can destroy and alter data. Having automatic data processing insurance can help reduce costs of the damage when a loss occurs.
There are many hackers out there who create viruses or malicious code to try to destroy information. This is sometimes referred to cyber terrorism, and an automatic data processing insurance policy can help fight this problem. The reimbursement of interruption, loss of time, and expenses may be covered by your policy.
This type of cyber-attack uses a fraudulent website that mimics a legitimate website to steal personal information from unsuspecting users. If a company’s website is hacked, imitated, or used in this process, your business may lose the trust of customers and employees. Your cyber insurance policy may reimburse customers and notify them of the viral attack.
Your company may be used in a phishing scam, which is a process of stealing personal information such as passwords and credit card numbers by sending emails pretending to be from a trustworthy business. Loss of this type of data can be extremely harmful to both your company and your customers.
With these types of attacks happening every day to companies worldwide, having automatic data processing insurance can be an important part of keeping your business protected. Be sure to get insurance that covers your specific needs.