The holidays are a time of high crime, both physical (robberies) and virtual (hackers). Is your pharmacy or small retail business ready for any cybercrimes that may be committed?
Targeting Small Businesses
It’s common for small retailers to believe that their systems are safe, as it seems likely that only larger companies get targeted by cyber criminals. However, it’s only the huge breaches that make the news, not the smaller ones, which hides the fact that hackers also target small companies. They might get away with less consumer information that they can sell on the black market, but smaller systems are easier to hack into, due to a lack of security enforcement.
The Most Common Type of Cyber Crime
While there are multiple types of cybercrime, including situations where your computer systems are held for ransom or an employee accidentally pays a phony, faked invoice sent over by a cyber-criminal, the most common are those where your system gets broken into and information gets stolen. These hackers often use tricks to cover their tracks, such as taking down your entire network, making the problem harder to clean up. The last thing that you need is for something like this to happen on one of the busiest shopping days of the year.
Protecting Your Small Business Saturday and Cyber Monday Customers
The last thing that you need is for your computer systems to get hacked and go offline during Small Business Saturday and Cyber Monday. Even if your main customers appear in person to shop at your store, the online portions of your e-commerce pharmacy and retail store are at risk. Your customer database, which includes customer information like names, addresses, and credit card numbers can be removed from the cloud that they’re stored in and shared with other online criminals, leaving you with quite a problem on your hands.
Choosing a Cyber Liability Insurance Plan
How can you protect your bottom line from holiday hackers? The solution lies in a cyber liability insurance policy. No matter the size of your business, it’s a good idea to have one, as these insurance policies cover:
Rebuilding Your System – After your computer system is hacked into, you’ll need to contact an expert to have it rebuilt securely. Additional measures will need to be taken in order to ensure that it isn’t broken into again. This costs money, although your cyber liability insurance plan should cover the price.
Notifying Your Customers – You will need to inform your customers of the breach and offer them something in return, usually in the form of credit locking and monitoring for a certain amount of time. Again, this is an expense that your cyber liability insurance should pay for.
Have Questions? Contact Charlotte Insurance
Want to learn more about cyber liability insurance for your small business or e-commerce pharmacy? Contact Charlotte Insurance. Our agents can explore and explain all available options and put together the insurance coverage plan your business needs.