Cyber Liability for Small Business Owners: Top Small Business Threats 

Responsible small business owners understand how important it is to protect their operations from unexpected incidents. But while many may focus on physical security and tangible losses, cyber threats are becoming one of the most significant dangers facing the modern business world. Understanding these risks and safeguarding your finances with the right cyber liability insurance may be crucial.

Understanding Cyber Threats Facing Louisiana Small Businesses

Cybercriminals have started to increasingly target small businesses in recent years, believing they may have fewer resources dedicated to cybersecurity. Here are some of the top cyber threats the team at Bruni Insurance Agency has observed impacting businesses:

• Phishing attacks—These are fraudulent emails or messages designed to trick employees into revealing sensitive information or clicking on malicious links.
• Ransomware—This refers to malicious software that locks your data or systems until a ransom is paid. This can halt business operations and lead to significant financial loss.
• Data breaches—A broad term, this generally refers to unauthorized access to customer or employee data, which can result in legal liabilities, reputational harm and costly notification requirements.
• Business email compromise—Scammers may attempt to impersonate executives or vendors to trick staff into transferring funds or sharing confidential information.
• Malware and viruses—Harmful programs can damage systems, steal data or disrupt business activities.

Why Cyber Liability Insurance Matters

Many small business owners believe cyber incidents only happen to large corporations, but the reality is that no business is too small to be targeted. Fortunately, a suitable cyber liability insurance policy can help cover costs related to:

• Investigating and responding to a data breach
• Notifying affected customers and providing credit monitoring
• Restoring compromised data and systems
• Legal costs responding to lawsuits and regulatory fines
• Cyberextortion payments and business interruption losses

Take the Next Step to Financially Protect Your Business

If you’re looking for cyber liability coverage in or around Morgan City, LA, contact our team today to learn more about your options.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.