Is Cybersecurity Insurance Worth It?

February 7th, 2022

Businesses collect an unprecedented level of data in today’s online shopping world. Just by browsing a website, consumer data may be transferred to the website host and held for a variety of purposes. 

Whether data is being collected for intentional purposes or to facilitate a retail transaction, businesses have loads of personally identifiable information (PII) that can be stolen. Each day, hackers seek new ways of gaining access to a company and taking advantage of the data stored on the company network. 

While information technology (IT) professionals are always trying to find new ways to secure a business, hackers inevitably get in. For some, enlisting in cybersecurity insurance may be an additional way to support the security of your business. But is it worth it?

Cybersecurity insurance may or may not be worth it to protect your business. Here’s what you need to know to first learn about cybersecurity insurance, when it is required, and if you should consider it for your company’s security.

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