Insurance for Telecommunications Carriers
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What Insurance Do Telecommunications Carriers Need?
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Cyber Liability Insurance protects you from the theft of sensitive data. If you suffer a data breach or software attack, Cyber Liability Insurance will cover the costs of notifying and restoring affected customers, recovering data and repairing security systems.
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Frequently Asked Questions
Why do Telecommunication Carriers need insurance?
This industry consists of businesses such as broadband internet service providers (e.g. cable, DSL), telephone carriers, cable television distribution services, closed-circuit television (CCTV) services, VoIP service providers, direct-to-home satellite system (DTH) services, telecommunications carriers, satellite television distribution systems, and multichannel multipoint distribution services (MMDS).
It is important that you protect your assets. When your business is faced with a lawsuit, there won't be any assets to protect if you don't have insurance. Your insurance will pay for the defense and court fees, thereby protecting your business assets and even your personal assets.
What risks do Telecommunications Carriers face?
There are many unique risks telecommunications carriers can face. Below are some examples:
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Your server has been hacked and some of your customers' data has been stolen.
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A part-time employee at your office gains access to confidential documents that belong to one of your customers. Your customer finds this out and sues your business for failing to protect their privacy and records.
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Your office catches fire and most of your equipment and important documents are destroyed.
How much does insurance for Telecommunications Carriers cost?
The cost of insurance for telecommunications carriers varies as the cost depends on the size of your business, the number of employees you have, and the coverage needed. To find out the cost of your insurance, simply apply online and receive a free quote in just a couple of minutes.