There was once a time when locking our doors and windows helped prevent people from having their valuables stolen. Things such as jewelry and personal belongings were safe as long as our homes were secure enough, but as times change we start to develop an affinity for technology. Important files are stored on our computers and devices along with credit card information and even a large part of our identities. During this day and age the possibility of becoming a target of a cyber attack is alarmingly high.
It is understood that a lot of people during this day and age are taking precautions in order to make sure that their emails, documents, files and other important information on their devices are protected. Whether it be with new virus protection, spyware and other types of prevention software. What about your phones? What about the devices you have that are unable to download those types of software? Information that is backed up onto your phone is still able to be stolen. That includes credit card information, personal information and any information you may have stored on the cloud. Did you know that 2.7% of files shared in the cloud are publicly accessible? Did you also know that 1% of files uploaded to the cloud contain sensitive data and 4.4% of that data includes information such as business plans and financial records! Having that data publicly accessible puts your business at a high risk. Did you know there is scuh thing as Cyber Liability Insurance?
It’s important to make sure that you’re investing in Cyber Liability Insurance. This type of coverage will help assure that you and your family are prepared for the chance of being targeted due to your high net worth value. Many cyber criminals are targeting the affluent for obvious reasons. Even with some of the software downloaded to ensure the safety of your devices, it’s still not a guarantee that you and your family will be protected from cyber attacks. There’s always the chance that one phishing scam could slip through the cracks or the chance that ransomware could be more advanced than your computer program. In 2015 there was an estimated three trillion dollars in damages around the world and is expected to hit an upwards of six trillion by the time we reach 2021. The Family CyberEdge plan is being introduced in order to prevent the loss of data, provide reimbursements along with consultations and is able to cover the costs of a professional crisis management firm to address related incidents.
Not only is cyber liability important for protecting your assets, but it is also available to prevent cyber bullying from reaching your household. Children and teenagers spend a lot of time on the internet now-a-days, whether it be for school or for leisure. Threats directed toward your children can cause them extreme stress and constant paranoia, something that no one should have to deal with. This coverage is available to help cover expenses that deal with both physical and emotional damage that comes with being cyber bullied. It doesn’t only extend to threats, but also defamation,and extortion of information. Don’t wait until a cyber attack has been launched against you and your family to start looking into coverage. It’s never too late to protect your family and their assets, and it’s never too late to make sure that your children are receiving all the protection that they deserve. Do not leave yourself at risk for something small to happen that could turn into a higher risk in the future. Get covered now.