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Cybersecurity becoming bigger focus for businesses

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The cybersecurity industry is beginning to show extreme growth, with the number of cyberattacks rising seemingly every day, reported BrainTrack.

The website said combating these attacks is the focus of an expanding industry, with future experts honing their skills through programs and events like the Collegiate Cyber Defense Competition, in which students compete in a “cyber-war game” to defend a fictitious company’s network and thereby improve their skills in cybersecurity.

“The internet is the place where companies and governments keep their crown jewels – their intellectual capital, their financial information, their people’s private information,” Ed Kanerva, vice president of Booz Allen Hamilton, told the website. “Because the internet is growing, there’s an exponential growth in the need for cybersecurity experts.”

With the increase in cyberattacks, it is imperative that all businesses invest in a professional liability insurance policy with a cyberliability component, which can give companies protection from the hackers threatening their “crown jewels.”

According to a blog post for SYS-CON by Bob Gourley, a cybersecurity expert, 2011 was a huge year in the cybersecurity industry. However, the blog post said the most significant threat businesses will face in 2012 is the online equivalent of petty theft and burglary instead of a cyberwar.

 

General Liability Insurance

What Is General Liability Insurance? Commercial General Liability Insurance protects small-business owners from claims of injury, property damage, and negligence related to their business activities.

Workers’ Compensation

What Is Workers’ Compensation Insurance? Workers’ compensation insurance covers your employees’ medical expenses and at least some portion of their lost wages if they are injured on the job.

Business Owners Policy

What Is a Business Owners Policy? A BOP is simply bundled insurance designed to provide essential coverage to certain business owners at a competitive price. A BOP insurance coverage includes

Professional Liability Insurance

Professional liability insurance also called , errors and omissions insurance (E&O; insurance), protects you if a client claims that your services caused them to suffer a financial loss. While general liability insurance is primarily focused on property damage or bodily injury,

Disability Benefits Insurance

Employers in New York State are obligated to offer disability benefits insurance to their employees. This coverage is specifically designed to provide financial assistance in the event of off-the-job injuries or illnesses.



Business Umbrella Insurance

Without Business Umbrella Insurance (also sometimes called Umbrella Liability Insurance or Excess Liability Insurance ), you would have to pay the uncovered expenses out-of-pocket. Even if you carry General Liability Insurance for your business, without business umbrellainsurance you might face a repair, settlement, or judgment in excess of your coverage limit.

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