One of the most valuable things a business can lose in the event of a data breach is the trust of their customers

Cybercriminals seek out a specific type of data when they attack food service businesses; they want your customers’ personally identifiable information (PII) which includes names, account numbers, and Driver’s license numbers so they can steal or sell their identity.

You might be thinking that because your business is on the smaller side you don’t need cyber liability because no one would ever hack you. But, you’d be wrong. Even small and mid-sized restaurants and bars process a high volume of credit and debit transactions – the details of which is exactly the kind of information cybercriminals are hoping to get their hands on.

Key Benefits & Features

You can protect your customers from cyber-attacks by implementing even basic security measures like passcodes and firewalls within your online processing systems, and you can protect yourself and your business from the excessive liability costs of a breach with Cyber Liability Insurance.

Cyber Extortion Expenses

Cybercriminals don’t just target customers; they also target business owners. By capturing your private customer and company data, cybercriminals may try to leverage your fear and concern as a means to extort money from you in exchange for releasing the information. With a Cyber and Data Breach Liability policy, you will know that you’re not alone in dealing with an extortion threat and expenses.

Legal Expenses

It’s possible that if your restaurant suffers a severe data breach, at least some of your customers will seek damages. Even if a lawsuit never goes to trial, there can be extensive fees associated with handling the claim. A Cyber Liability policy can help you cover the legal costs rather than struggling to pay them yourself – an especially important point since your reputation may suffer, and you could lose business as the result of a breach, making the financial shock two-fold.

Notification Expenses

If your food service business suffers a data breach, you may have to pay to notify every affected person promptly. Not only does such a process take a huge amount of effort, but it can be very expensive to organize and implement.

Credit Monitoring Service Expenses

Credit monitoring is a valuable peace offering not just because it will help protect your customers who could face more problems if they’re targeted as a result of your security breach, but also because it shows that you care and want to make things right. Unfortunately, to offer the service to multiple people; as you would in the event of a breach, can be quite expensive and in some states it’s not just a choice – you’re legally required to do so. However, you can avoid those costs with a good Cyber Liability policy.

PR Campaign Management

One of the most valuable things a business can lose in the event of a data breach is the trust of their customers. It’s an indirect cost that can affect your company for many years after the breach itself. With a comprehensive Data Breach Liability policy, you can get assistance funding a positive PR campaign to counter the hit to your reputation and attract new and continued business.

Chances are your payment processing systems utilize the internet at some point and even with the best security measures in place you can still be successfully attacked. Contact us today to find out more about how you can protect your food service business with comprehensive Cyber Liability and Data Breach Insurance.