All she wanted to do was make a nice profit with her business, is that too much to ask? That’s what Beverly thought to herself in despair when she received word that somehow, an internet transaction had gone terribly wrong–and instead of gaining access to the supposed customer’s information to extract the money for the purchase of the organic essential oils that Beverly carefully blended, the crooks had managed to hack a way into Beverly’s database and steal all sorts of personal and financial information. What’s worse, it could very well be that the thieves had some assistance from a dishonest person within Beverly’s organization. Fortunately, Beverly had taken the advice of her professional insurance agent who had recommended that as part of her overall risk management program, Beverly purchase a good crime insurance policy. Although the damages to her business amounted to several thousand dollars, Beverly was thrilled that her policy paid for all of the damages up to the policy limit; she was responsible only for a small deductible amount.
This advice was well-timed
Consider that small- and medium-sized businesses (Beverly’s is firmly in the former) are dealing with a Goliath-sized problem. As they seek to do business on increasingly varied electronic-based channels both domestic and internationally in order to keep up with how their larger competition goes to the marketplace, they typically lack the size, funds, and depth of experienced talent to build a sophisticated infrastructure that has the ever-evolving protections that are needed to stay abreast of high-tech thieves.
As Beverly knows, it takes more than just talent to make a buck these days–and keep it. A good risk management program with safeguards to help fight crime from inside and outside one’s business is key, and a good crime insurance policy is the deadbolt on top, if you will. Contact a professional insurance agent, who can help guide you in devising a program that fits the unique needs of your own organization, as well as assemble a comprehensive package of coverage to protect every aspect of your business operations.