How Business Insurance Can Cover Cyber Threats

In today’s digital world, cyber threats are a growing concern for businesses of all sizes. Even a single incident can disrupt operations and put sensitive information at risk. At Wilkinson Insurance Agency, we understand how important it is for local businesses to protect themselves from the financial fallout after a cyberattack.

Why Cyber Liability Coverage Matters

Cyber liability insurance is designed to help cover the financial and reputational fallout of cyber incidents. Policies typically include first-party coverages (your costs to respond and recover) and third-party coverages (claims by customers or regulators). Whether you run a small retail shop or a growing tech firm, cyber insurance can provide crucial support if your systems are compromised or customer data is exposed.

Some of the key protections cyber liability coverage may offer include:

• Data breach/incident response: Helps cover costs of forensics, notifying affected customers, providing credit monitoring and managing public relations after a breach.
• Business interruption: May replace lost income if your operations are halted due to a cyberattack.
• Legal and regulatory expenses: Assists with legal fees, settlements, and regulatory fines related to a cyber incident.
• Cyber extortion: Can help cover ransom payments and related expenses if your business is targeted by ransomware.

Who Needs Cyber Insurance in Tennessee?

Cyber threats don’t discriminate by industry or size. Small and medium-sized businesses across Tennessee are increasingly targeted because they often have fewer resources dedicated to cybersecurity. Cyber liability coverage can be vital to your risk management strategy if your business stores customer information, processes payments or relies on digital systems.

How Our Team Can Help

At Wilkinson Insurance Agency, we work closely with Tennessee business owners to assess their unique digital risks and recommend tailored cyber insurance solutions.

Contact us today to learn more about cyber liability coverage and get a quote.

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.