One-Stop Shop Cyberinsurance Opens Doors For Small Companies

If you are a small company worried about keeping your client data safe, there are now a number of options to help. SDV’s Gregory Podolak was recently interviewed by on his thoughts…

As the threat of cyberattacks continues to loom large, more insurers and brokers have started offering cyber-specific policies with “fringe benefits” such as risk scanning and access to data breach response professionals. Earlier this month, for instance, California-based broker CoverHound unveiled a product for small businesses on its platform that includes cyberinsurance coverage written by Chubb and cybersecurity management programs from Symantec Corp.

According to experts, these types of hybrid insurance products can help small-scale businesses lacking in-house information technology resources to steel themselves against data breaches, which can open the door for business opportunities with larger corporations that have grown wary of cyberthreats.

“There is an advantage to having added cybersecurity resources,” said Greg Podolak, managing partner of Saxe Doernberger & Vita PC’s southeast office. “That allows smaller businesses to be compliant with the increasingly stringent demands of their clientele.”

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Oct 17, 2016
Gregory D. Podolak

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