Many standard first party insurance policies such as property and traditional crime were designed to deal with threats to a company’s physical assets – their buildings, machinery, office equipment and tangible money only.
There has historically been little to no protection offered under these policies for loss of, theft of or damage to data, systems and electronic funds.
However, most businesses these days now have a much greater reliance on their digital assets than they do on their physical ones, which makes a new kind of policy essential.
Criminals no longer target physical banks - they target online accounts. And if a business has somehow been negligent in allowing this to happen, the bank will not reimburse them.
Seemingly innocuous information such as names and addresses stored on a computer network can be worth more money than you think.
DeMattos Insurance Agency is a firm of proven professionals; the kind of people you can depend on.