Cyber Liability Insurance for Massachusetts Business Owners

Cyber liability insurance is no longer something smart business owners can afford to ignore. If you operate a business you are not immune to cybercrime.

Gone are the days when you could hang out your shingle and the community would walk right in and purchase from you. Nowadays, if you don’t have client reviews on Yelp, a mobile-friendly website, an easy online purchasing or scheduling system, and a Facebook following, then people may never seek you out. Putting yourself and your business out there for the world to see does come with significantly more positive exposure, but it also opens you up to threats to your company, employees, and customers As your local insurance agent, Morse Insurance wants to protect your business from the risks associated with being a business owner in this brave new world, and that includes trying our best to secure your company against cybercrime with the proper cyber liability insurance.

What is Cyber Liability Insurance?

We are so glad you asked us because this is critical coverage that is often overlooked by businesses of all sizes. In particular, if your business operates online, selling goods or services, or if you collect any kinds of personal information about your customers or clients on or offline, you should invest in Cyber Liability protection.

This important liability coverage can protect your company from various exposures such as:

Company Data Breach – A data breach occurs when a customers’ personal information, such as social security number or credit card numbers, are exposed or stolen by a hacker or employee who has accessed the company data base illegally. Many cyber liability policies will cover any expenses associated with the breach, including notification costs, credit monitoring, legal fees and fines, and financial losses resulting from identity theft.

Property Exposures – Your business property consists of more than just the four walls surrounding your company. In the case of cyber liability insurance, your “property” is defined as anything that affects the well-being of your business, such as business interruption, data loss or destruction, lost funds, computer fraud and cyber extortion.

Reputation Management – Repairing your reputation after a data breach can be costly for any size businesses, especially since, many times, you are not aware you’ve been attacked until it’s too late. Damage control, both internally and externally, can be a costly endeavor and something very few companies have planned for. The right cyber liability insurance will help cover – possibly up to 100% – the costs associated with hiring a public relations firm to help repair your reputation.

You may be thinking, “There’s no way this can happen to my company,” consider this:

The cost of data breaches has increased 29% since 2013 and more than half of data breaches are caused by system glitches and human error.

(Source: 2015/2016 IBM sponsored Ponemon Institute “Cost of a Data Breach Study”)

If that doesn’t make you feel uneasy enough to consider cyber liability insurance then perhaps this common business owner scenario will…. Suppose you are traveling, whether for business or pleasure, and you’ve brought your company laptop with you. Now think about what happens if your laptop gets lost or stolen. It’s likely that your login password isn’t very sophisticated (how would you remember it otherwise if it was?). After a criminal gets past that initial login screen, there’s nothing stopping them from getting into your company files because they are not password protected. Someone with basic hacking abilities can access your computer and all of its contents without much effort at all, putting your business and your customers at risk before you even realize you don’t have your laptop. Pretty frightening!

At Morse Insurance, we want to protect your business at all levels. If you are ready to have “the talk” about adding Cyber Liability Insurance to your company or would like a comprehensive review of all your business liability insurance needs, contact us today or call 508-238-0056.

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Hear What Our Clients Have To Say
"The team at Morse Insurance handles all my personal and business insurance needs. I expect and receive professional insurance recommendations tailored to my particular needs and circumstances. I could not ask for a more attentive, conscientious and friendly group of people."

Steve, Morse Insurance Client

5.0
2016-06-22T14:46:49+00:00

Steve, Morse Insurance Client

"The team at Morse Insurance handles all my personal and business insurance needs. I expect and receive professional insurance recommendations tailored to my particular needs and circumstances. I could not ask for a more attentive, conscientious and friendly group of people."
"Morse Insurance truly maximizes my insurance dollar while giving me appropriate, well thought out insurance strategies. Their continued dedication and commitment to providing the balanced combination of value and peace of mind is why I keep working with them."

Sonja, Morse Insurance Client

5.0
2016-06-22T14:45:27+00:00

Sonja, Morse Insurance Client

"Morse Insurance truly maximizes my insurance dollar while giving me appropriate, well thought out insurance strategies. Their continued dedication and commitment to providing the balanced combination of value and peace of mind is why I keep working with them."
"Morse has handled the Professional Liability, Business General Liability, Auto, and Workers’ Comp for our company for over 10 years. Their attention to detail is what sets them apart. I've been with some agencies and you call in only to get an agent who you don't know and who doesn't know you. It's not really a personal relationship. With Morse, I call up Donna and say, 'This is Bill' and she answers my questions. They're small, but they're large at the same time. You can really trust that they'll get things done."

Bill, Morse Insurance Client

5.0
2016-04-05T19:51:49+00:00

Bill, Morse Insurance Client

"Morse has handled the Professional Liability, Business General Liability, Auto, and Workers’ Comp for our company for over 10 years. Their attention to detail is what sets them apart. I've been with some agencies and you call in only to get an agent who you don't know and who doesn't know you. It's not really a personal relationship. With Morse, I call up Donna and say, 'This is Bill' and she answers my questions. They're small, but they're large at the same time. You can really trust that they'll get things done."
"I've been with Morse for 12 years with my Business Fleet Auto and Workers’ Comp, along with my personal Auto, Homeowner's and Multi-Family Property Insurance. Unlike national insurance companies, the Morse team works and lives in the area so they understand what coverage is suitable for this region and my needs. I love that they are locally owned and managed."

Sonja, Morse Insurance Client

5.0
2016-06-22T14:44:57+00:00

Sonja, Morse Insurance Client

"I've been with Morse for 12 years with my Business Fleet Auto and Workers’ Comp, along with my personal Auto, Homeowner's and Multi-Family Property Insurance. Unlike national insurance companies, the Morse team works and lives in the area so they understand what coverage is suitable for this region and my needs. I love that they are locally owned and managed."
"Morse handles all of our Commercial Insurance: Liability, Workers comp, Property and Casualty, and Auto. I completely trust that they have our best interest in mind when they make recommendations about what we need and don't need. Plus, they have top notch customer service, are local and accessible, so when I need something they can turn a requests around quickly. We couldn't be happier with them."

Patti, Morse Insurance Client

5.0
2016-06-22T14:44:15+00:00

Patti, Morse Insurance Client

"Morse handles all of our Commercial Insurance: Liability, Workers comp, Property and Casualty, and Auto. I completely trust that they have our best interest in mind when they make recommendations about what we need and don't need. Plus, they have top notch customer service, are local and accessible, so when I need something they can turn a requests around quickly. We couldn't be happier with them."
"Working with Morse Insurance is like working with your family, we feel like we're a part of their family and they're a part of ours. The entire team is very human and funny with great personalities. It's clear that they love what they do and that they love their customers. They're great people, wonderful neighbors, and an awesome company and I just love doing business with them."

Patti, Morse Insurance Client

5.0
2016-06-22T14:43:41+00:00

Patti, Morse Insurance Client

"Working with Morse Insurance is like working with your family, we feel like we're a part of their family and they're a part of ours. The entire team is very human and funny with great personalities. It's clear that they love what they do and that they love their customers. They're great people, wonderful neighbors, and an awesome company and I just love doing business with them."
"Morse Insurance has been our agency for nearly 20 years. At first they provided our Homeowner's Insurance, then we added Auto Insurance. Later, when we started our business, it was General Liability and Errors and Omissions Insurance. The team at Morse is always there to guide us through these complex products. We feel they get us the best products at a fair price and know us on a personal basis."

Larry and Donna, Morse Insurance Clients

5.0
2016-04-05T19:53:15+00:00

Larry and Donna, Morse Insurance Clients

"Morse Insurance has been our agency for nearly 20 years. At first they provided our Homeowner's Insurance, then we added Auto Insurance. Later, when we started our business, it was General Liability and Errors and Omissions Insurance. The team at Morse is always there to guide us through these complex products. We feel they get us the best products at a fair price and know us on a personal basis."
5.0
7

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