Cyber Insurance and the Importance of This Protection in 2023

Cyber insurance is an area of focus for many companies across the United States and the world. The reason for this focus is due to the risk never being so high in this particular space. Cyber risk exists everywhere, and we must be ready when threats emerge. Whether you are in Coppell, TX, or abroad, cyber insurance is a real need that adds value. At The Select Insurance Agency, we can answer all questions you may have.

Who Needs Cyber Insurance

Cyber insurance is excellent for any company that handles or stores customer data. Even if you have proprietary information about your business stored on a network of any kind, it is also valuable.  

The Coverage it Provides

There are multiple levels of coverage that you get with a standard cyber insurance policy. The first is that it will help with the cost of notification to customers when there is a data breach. A big cost is associated with this, and cyber insurance covers how much you need to put out up to your policy limit.

Legal defense is another factor you need to take into account. Usually, with a cyber breach, legal costs roll in with mitigation and potential lawsuits. Finally, liability insurance can assist in the cyber insurance space. If you are liable for loss of customer data, you may face penalties and need to pay out to customers for the cost.

DFW companies must take cyber insurance seriously and know what it covers and who needs it. The Select Insurance Agency team can help provide education on cyber insurance and where it makes sense for your organization.

Understanding the Basics of Workers’ Compensation Insurance

If you have a business in the Coppell, TX area, The Select Insurance Agency can help you get the workers’ compensation insurance coverage you need. Many companies are required to have this coverage to protect their employees, and you don’t want to be caught without it when you need the protection it offers. Working with trusted agents can help you see what coverage is required.

Depending on the business, you may need to cover all your employees, or you may not have to provide this type of coverage for them. The most important thing is to ensure you’re not excluding employees who are legally entitled to this protection. You also want to ensure that your policy meets your industry’s guidelines and follows the proper rules and regulations.

Understanding workers’ comp and what it offers isn’t always easy, especially if you’re starting a new business or have taken over an existing one. Fortunately, our professional agents are here to help. We’ll discuss the coverage you need, whether you already have an existing policy, and any changes you might want to make. Then you and your workers can have peace of mind, knowing that on-the-job injuries will have coverage and protection.

The Select Insurance Agency is here if you’re in the Coppell, TX area and looking for an agent to help you with your workers’ compensation insurance needs. Reach out to us today, and let’s talk about the coverage requirements for your business. Then you can make informed choices about workers’ comp and feel comfortable with the policy you have to protect your workers in the event of injury and keep your company covered for the future.