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What Are Digital Assets and Why Should they Be Protected?

Land, buildings, equipment, and office furniture are all assets of a company. They are obvious and tangible. As a good business owner, you understand the importance of carrying insurance to help you recover in the event of an accident. Have you considered protecting your company’s digital assets as well? If you store content, such as client and partnership data, logins, company emails for example, then you have a digital asset.

Safeguard customer information and company data with cyber insurance. The knowledgeable brokers at the Nowell Agency are happy to discuss your needs and design a specific plan for you at reasonable rates. We work with companies from many different industries, which gives us a breadth of understanding to serve your needs.

Understanding Digital Assets and Ways to Protect them

Once you understand digital assets, you will see how valuable they are and why you should protect them.

  • Definition of Digital Assets: As noted before, these are intangible. You cannot touch them like your work vehicles or computer desks. Here are some examples:
    • Business Photos that You Created: These can be sold, thus they have value.
    • Business Websites and Blogs: If you have trademarked the look of your site, it can be valuable. The same applies to the content on your company’s website and blog.
    • Business Processes Your Employees Create: Think about all the spreadsheets or other items your team has developed. These can be duplicated and sold.
    • Apps: Have you developed an app either to use internally or to sell? This is a digital asset.
    • Contact and Email Lists: Each time you send out a newsletter via email, you are accessing digital assets through your lists.
    • Intellectual Property: Consider any materials that you have copyrighted or trademarked and patented.
    • Products You Have for an Online Store: These are part of your business inventory and under your control.
  • Why You Need to Protect Digital Assets: The expenses related to the purchase and use may be claimed on your business tax return. You can also sell or license many of them. Investors or business buyers will assess the value of your company based on tangible and intangible assets.

3 Tips for Protecting Your Company’s Digital Assets

Take proactive steps to keep your business and client’s information safe with these tips:

  1. Develop Internal Protocols and Policies: Instead of allowing personal devices to be used for company purposes, provide company equipment with protective software installed. Use antivirus on all devices and expect your team to pay attention to those pesky pop-up notifications.
  2. Keep Security and Antivirus Software Updated: The world of hacking is ever-evolving. Avoid ignoring updates. It is imperative that you stay up-to-date on security updates.
  3. Obtain a Cyber Insurance Policy: After you have done everything possible to safeguard your digital assets, get an added layer of protection with a cyber insurance policy. The right coverage can help you recover when a hacker or other cyber-criminal tries to undermine your business.

Beat Cyber-Thugs at their Own Game with Cyber Insurance for Your Texas Business

Take control of your digital assets and protect them like you would any other assets, with cyber insurance from the Nowell Agency. Our team is experienced in a variety of coverage types and industries. We strive to tailor a policy package that meets your specific needs at rates you can afford. Check us out and experience the difference!

Call one of our offices near you to schedule a meeting with a knowledgeable and experienced broker at The Nowell Agency about cyber insurance. Request a quote online.

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