These are complicated exposures that now affect even small businesses. And the necessary insurance coverages are complex too.
Business owners must think about paper records, physical system security, and electronic data.
- It will involve their physical building locations, as well as their e-systems.
- They’ll need to know how much data they use and/or archive, as well as how many, and what nature of customers that they have.
- They must think not just in terms of the operations that they solely control, but also of the “Network” in which they are engaged.
A network is as everything and everyone that business owners allow to have some portion of access to their corporate operations, whether they are employees (on-site or remote), on-site or remote contractors, connected third parties and even connected customers. This is especially true when it comes to the use of mobile devices.
Look at how broad the term “mobile device” is, legally, now.
Mobile data includes workstations, computer terminals, internal IT operations, their websites, Facebook pages, Twitter, and other social media connections, as well as all employee connections whether through company provided devices or their own. It also includes all other connections that your customers use to and from third parties to connect to you and accomplish their work, including off- site physical and e-storage locations. It involves current, stored/backed-up and archived data, and documents and files. It is everything.
Take a few hours a year to consider the risks to which your business is exposed. Walking through that allows a business to better see what needs to be done, including insurance.
If you’d like to discuss this and other issues in cyber related insurance, or more traditional business insurance, give us a call at 800-548-2329. We are a NJ insurance agency.
