Technology firms are in the business of keeping their customers connected and protecting client information. It seems unthinkable that your IT company could be the victim of a security breach or data loss. That’s why keeping your data secure is a top priority for your company and you invest a great deal of resources to protect your customers.
However, no IT company is invulnerable to attack. Additionally, some risks to your IT business are not related to technology. Whether the threat is manmade or natural, insurance for online businesses is imperative.
Here are five disasters that can threaten your IT business and the type of insurance coverage you need to reduce your risk.
Safeguard Your IT Business from These Disasters with the Right Insurance
Glitches in the System
Sometimes issues come from within your system even though there is no malicious intent. Nonetheless, bugs in your system can result in lost time, revenue and even customers.
Professional liability insurance covers you if are sued as a result of any vulnerabilities in your company’s network.
Cyber attacks target IT companies every year with both syntactic (viruses, worms and Trojan horses) and semantic attacks (modifying data so it’s incorrect). Your IT business can be exposed to these type of crimes even with the toughest firewall and security platforms.
Cyber liability insurance protects you against data breaches, unauthorized distribution of confidential information and external hacks.
Updates to software are meant to keep your clients competitive and efficient. However, things can go wrong when you’re making changes to IT systems. Unanticipated delays can prevent you from meeting client deliverables on time. Technical complications can inadvertently jeopardize customer data.
Error and Omissions insurance protects you against claims of services not being rendered or claims of negligence in the event of a problematic system update or software implementation.
Fires and floods can impact your IT company in profound ways for years to come. Lost data, impaired computers and damaged commercial buildings affected by these disasters can suspend your business operations for a significant period of time.
The right property insurance will help to rebuild your infrastructure and keep your doors open for business.
When you’re busy running a growing business, sometime you forget to expect the unexpected. Yet, business interruptions can bring your operation to a halt. For example, electrical power surges or lighting strikes could fry your network or ruin your computers. If the electricity goes out during a storm, cutting vital power to your systems, you won’t be able to keep operating.
A broad business owner’s policy can shield you from business interruption and offer you additional liability coverage for your IT company.
Help Finding the Insurance Coverage for IT Businesses
Clients look to the experts at technology firms to assist them with IT, E-commerce and online business solutions. In the same way, it’s vital that IT companies partner with the right insurance agency so they can worry less about risk and focus more on running a successful business.
Atlanta Life is here to help you get the insurance you need so your online business is prepared for any of the scenarios listed above. We’ll work with you to find the ideal coverage for your specific needs. Contact us today at 866-389-4466.