Operating a Private Network? It’s Time To Talk About Cyber Liability

If your business operates its own network, you need to be aware of the risks you’re taking on. Not just risks to your operation if that network is breached, which do need to be dealt with, either. Even if you don’t allow guests onto your network, it represents a resource that could be misused, accidentally or otherwise. That means you take on cyber liability risks from the moment you start it up. That’s just a fact of life, which is why it’s important to let your insurer know and to work with an insurer who understands the needs of companies with their own networks and communication infrastructure. According to AXIS, this risk affects every sector of the industry, even those not normally associated with tech.

Protection From Online Risks

In addition to cyber liability, a prepared insurance provider will be able to match you with carriers that provide online fraud protection and other crucial coverage options. Ask for a review of your company’s operations if you aren’t sure what other online and network insurance to ask for. You might be surprised at what you can hedge against if you are thorough and you work with a company that really understands what can happen on a private network, as well as how realistic the risks are. The result will leave you with the right coverage, no over or under-insurance.