IT Support in West Palm Beach: Why You Should Consider Cyber Insurance

IT Support in West Palm Beach: Why You Should Consider Cyber Insurance


A reliable provider of IT support in West Palm Beach can offer preemptive security measures to protect both corporate and customer data, but there's no denying that cybercriminals are becoming more and more sophisticated with their tactics as time goes by. Although an ounce of prevention is worth a pound of cure, it's also advisable to prepare for the aftermath of a breach, should one manage to break the encryption, get past the firewall, skirt around the intrusion detection system, etc. After all, companies like Equifax (a consumer credit reporting agency), Target (second largest discount retailer in the US), and JPMorgan Chase (multinational investment bank) -- just to name a few -- have become victims of data breaches in recent years, and thus spent a lot of money on investigating their cases, recovering leaked data, and paying big fines to customers whose personal information got compromised.

If those companies didn't go unscathed, then there's no reason for you to be complacent. For small and medium enterprises (SMEs), paying penalties is more than inconvenience; it can also mean bankruptcy.

Survival is Key

A major breach can cripple your business, so your goal is to keep the company afloat long enough to rebuild what was lost. One way to ensure your company's survival is through cyber insurance, which is insurance taken out to protect businesses from risks involving the internet. Terms and coverage vary depending on where you get cyber insurance, so you may want to discuss your options with your provider of IT support in West Palm Beach. Nevertheless, cyber insurance usually addresses costs involved in data recovery and restoration, including fines and penalties to a certain extent. This means that in case your company experiences a data breach, you won't have to tap into your company's budget because your insurance provider will come to your rescue.

Know What to Choose

Of course, the tricky part is selecting the right policy for your company. Should you extend your current liability insurance or should you get a standalone cyber insurance? What kind of cyberattacks are covered? What are the limitations and exclusions? What does the fine print say? Don't jump into it! You need time to compare different options and, also, to get the input of IT professionals.

Need help? Ask us at Nexxen Technologies. As one of the most trusted providers of IT support in West Palm Beach, rest assured that we can help you with all your security concerns, not just cyber insurance. Our 98% customer retention rate speaks for the quality of service we deliver. So, don't wait long! Contact us today to learn more.