Los Angeles, California (pressreleasepost) November 23, 2018 – MFE Insurance, a Los Angeles entertainment insurance agency, recently published a blog post educating readers on how technology insurance can benefit a cannabis growing business. Protecting the technology used to make these businesses successful can impact it for years to come.
Data breaches can damage a company’s credibility and result in high legal fees. Customers’ and employees’ data can include sensitive information, including phone numbers and addresses, which can make people feel unsafe if it is exposed. It can also expose credit card numbers, email addresses, and passwords, all of which can be used to commit fraud and identity theft. Protecting this information is critical, but if a data breach happens despite your company’s best efforts, having the right insurance policy can help you pay for necessary legal fees without significantly damaging your bottom line.
Technology insurance is designed to protect your business’s electronic data. It can help cover losses resulting from software failure, security breaches, phishing, and other types of electronic data theft or destruction. There are various types of technology insurance, including general liability, which typically covers legal fees related to data breach cases. Businesses can also obtain crime insurance, which covers damage caused by computer fraud and funds transfer fraud, and cyber liability insurance, which is designed to address issues related to exposed social security numbers, credit card information, customer records, employee records, and more. A professional insurance broker can help create a custom package of insurance policies to address your business’ needs and ensure that it has all of the coverage necessary to give you peace of mind in the event of a technological issue.
Speak to a cannabis insurance broker for more information about technology insurance and how to apply for a policy. MFE Insurance works with cannabis businesses of all sizes to ensure that they are protected in the event of a data breach or other technological issue. With clients across the country, MFE Insurance is committed to helping business owners succeed and grow. The agency also offers insurance policies for production sets, drones, and nightclubs, among other entertainment-industry businesses. Contact MFE Insurance at 213-266-7990 or online at https://www.mfeinsurance.com/