NEWS & EVENTS
Protecting Your Small Florida Business From Data Loss
Tags: community • home insurance • homeowners insurance • insurance • local • safety tips • seasonal • tips
Data safety can be a constant concern for some small business owners in Florida. It may be a good idea to include data loss insurance in the Florida commercial insurance you purchase to protect your business investment from losses.
Loss of data can have a negative impact on a business in a number of ways.
- Revenue can be lost because of website downtime.
- Customers, clients or employees might sue the business because their personal data has been compromised.
- Vital business information such as marketing programs and strategic plans could fall into the hands of business competitors.
- The reputation of a business can suffer because of data breaches or as a result of business interruptions while data is restored.
There can be many reasons for data loss, such as when:
- Power surges cause computer malfunctions.
- Illegal hacking destroys or alters data.
- Computers and storage devices are lost or stolen.
- Virus infections corrupt or delete data.
Including data loss insurance in Florida commercial insurance coverage for your business may provide protection if you suffer financially as a result of data loss. However, insurance is only a second line of defense against data loss and it’s important to take the advice of an IT specialist on steps you can take to protect your computer hardware and data from attack or theft.
Disclaimer: The above description provides a brief overview of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control.