Data Breach Insurance Explained By LA Entertainment Insurance Agency

Los Angeles, California (beforeitsnews) February 12, 2019 – MFE Insurance, a Los Angeles entertainment insurance agency, recently released a blog educating readers on how to protect their technology with data breach insurance. Many companies fail to consider what will happen if their data is lost. However, with so much personal information processed in digital format today, having this type of insurance on hand has become essential for most businesses.

Whether you’re operating a nightclub or running a theater production, it’s likely that you collect a large amount of sensitive, digital data. This can include customers’ credit card numbers, employees’ social security numbers, and other financial or personal data that is typically kept private. If this data is lost, hacked, or stolen, you could be liable for any damage resulting and find yourself or your company facing expensive lawsuits as people affected attempt to make up for their financial losses in court. Without proper planning, your company could face a huge financial risk.

Data breach insurance helps protect your company in the event of a leak. It covers stolen or lost data and can provide the funds needed to pay for legal fees related to court, judgements, or settlements; customer notifications, such as emails or letters; credit monitoring services, and public relations services for damage control. With data breach insurance, you can be sure that your company will be able to afford any expenses resulting from a breach without going bankrupt in the process. It can also help you rectify the situation as best as possible right away, without waiting for the necessary funds to arrive. Data breach insurance can be part of a comprehensive technology insurance package that includes umbrella, equipment breakdown, and errors and omissions insurance, among other policies.

Speak to an entertainment insurance broker for more information about data breach insurance and to apply for a policy. MFE Insurance covers a wide range of entertainment industry operators, including nightclubs, theater and movie productions, and music festivals, among other events. Its team of insurance brokers can help you select the best policies and develop a custom insurance package that meets your project’s needs. Contact the agency at 213-266-7990 or online at https://www.mfeinsurance.com/.

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