Think of how many times you handle your client’s credit card or debit card per day? An average small business owner conducts business with approximately 14 unique customers daily. This means every year; you handle about 4,368 different credit cards!
Now what would happen if those credit cards were hacked on your website or POS terminal? The amount of information in your files are extensive and highly sensitive… Think about it, first name, last name, credit card, expiration date and potentially address.
What do you think hackers can do with your customer data? It is likely that you will be implicated as the source of the data leak.
Would you want to face the potential lawsuits and embarrassment that comes from the liability exposure if your customer data was hacked?
Cyber Insurance has become a great policy to have for your business since it only takes like 5 mins to buy online and costs are about $40 a month for $1M in coverage.