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Cybersecurity legislation needed in the US

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Acknowledging the importance of cybersecurity, the Democratic Senate Majority Leader Harry Reid recently composed a letter to U.S. Chamber of Commerce CEO Tom Donohue about the necessary legislation to support the fight against cybercrime.

“Malicious cyberactivity poses one of the most profound threats to our nation; yet, our government currently lacks a framework with which to confront this threat,” Reid wrote in his letter. “To put it candidly, we are playing catch-up in an increasingly costly – and potentially deadly – game.”

With the government realizing the dangers posed by cybertheft, businesses across the United States should make an investment in a type of business insurance that can protect them from risks such as cybersecurity breaches, phishing and similar attacks.

In his letter, Reid pleaded with Donahue to support a number of cybersecurity bills being considered by the Senate.

According to Fierce Government IT, James Lewis, director and senior fellow in the technology public policy program at the Center for Strategic and International Studies, said the increased mobility of many businesses, as well as the reliance on telecom companies, internet service providers and cable companies, means business leaders and legislators must be more conscious of cybersecurity.

 

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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

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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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