Start-ups can mitigate cyber crime risks with insurance

Cyber-liability insurance policies can compensate an entrepreneur for the losses caused directly

Businesses, both small and big, are increasingly shifting their processes and transactions online. The heavy dependence on the internet, however, comes with its own risks in the form of cyber crimes. Besides taking cyber security measures, fledgling entrepreneurs, start-ups and small businesses in particular need to purchase cyber-liability insurance to mitigate the risk from cyber crimes. 

The threat: Today, both individuals and businesses live in perpetual fear that whatever they have kept online could be stolen, hacked, damaged or wiped off. Besides damaging a web site or stealing data, hackers can also lock down your system and demand a