Picking an IT Provider With Cyber Liability Insurance

When hiring an IT provider, you are trusting that they have the skills, knowledge, and experience to manage and support your IT infrastructure, not just when things are going well, but when things go awry. So how do you know if you are hiring the best IT provider for your company? One important and often overlooked factor when selecting an IT provider is that they carry Cyber Liability Insurance, and in a sufficient amount to protect your business. General Liability Insurance is not enough to protect against claims from damages from ransomware, viruses, or data breaches. 

When picking an IT provider, it is important that you are choosing an IT provider with Cyber Liability Insurance. 

Why? We spoke to William Blount, President of William Blount and Associates, to get a better understanding of why it is so vital to choose an IT provider with Cyber Liability Insurance. 

In the simplest answer, William stated, “It’s just like going to the doctor. You wouldn’t feel safe going to a physician that doesn’t have medical malpractice insurance.” Just as you wouldn’t feel safe going to a doctor without insurance, you shouldn’t feel safe hiring an IT provider without insurance. 

There is no such thing as a secure network. When something bad happens, you want to know that you have the best coverage and security. By not only having your own company’s Cyber Liability Insurance, but by hiring an IT provider with Cyber Liability Insurance, it gives you instant reassurance that you are protected against loss. 

William said the most important thing to do when speaking to an IT provider, is to simply ask the question: “Do you have Cyber Insurance?”. Once they have given you an answer, ask for proof of insurance, through a certification. William said you would be surprised how many people do not have professional liability insurance and that the majority of small and medium businesses actually do not have it. 

When considering hiring an IT provider, ensuring that they have proper Cyber Liability Insurance, experience with the ever-changing cyber security threat landscape, that they can monitor and respond to security issues before they become breaches, and that they can remediate security issues, is absolutely vital. If you want the best and safest option for your company, hiring an IT provider with Cyber Liability Insurance, should be your only option.