PUBLISHED ON: May 1, 2014
What would happen to your business if a cyberattack disrupted online communications or transactions, shut down local or regional transportation, or caused a power outage? Fortunately, to date, relatively few of the technology-based risks have resulted in such serious problems or losses. It also is fortunate that insurance companies are offering new insurance products tailored to address a wide array of emerging risks – many with manuscripted wordings. Businesses of all shapes and sizes should carefully consider the impact a cyberattack would have on their operations and business income and take steps to make sure that their insurance will respond as desired.