How to recoup losses from a cyber attack

Joseph Drissel, Contributing Columnist

Navigating cyber losses is one of the more challenging business realities that small and midsized business owners face today. And while cybersecurity is top of mind, many business owners risk extensive financial exposure when their networks store not only their own proprietary information but also that of their clients and customers.

Understanding the basic needs for substantiating an insurance claim can mean the difference between being made whole and being left holding the bag.

If you do business in any sort of collaborative environment (read: everyone), then you likely have your customers’ or partners’ receipts, account numbers, financial data, manufacturing and supply chain information, marketing plans, intellectual property, trade secrets, contracts, agreements and any number of other “secret sauce ingredients” on your network. Any and all of it can be stolen in a cyberattack.

Read full article from The Washington Business Journal