Cannabis businesses are quickly becoming major targets for cybercrime. This is because cannabis businesses have a lot of valuable data that criminals can steal, including customer information, financial data, and product information. Unfortunately, just 41% of marijuana businesses have taken steps to prevent ransomware attacks. If your online cannabis business doesn't have a cannabis cyber liability policy, you're at risk of losing this data to cybercriminals.

Cannabis cyber liabilities can help protect your business from a variety of cybercrime, including:

1) Ransomware attacks

A ransomware attack occurs when a criminal locks your computer or files and holds them for ransom until you pay them money. This can be a devastating attack for a business, as it can prevent you from accessing your data or customers' data. A cannabis cyber liability policy can help protect your business from this type of attack by providing you with the funds you need to pay the ransom and get your data back.

2) Data breaches

A data breach happens when someone gains unauthorized access to your business's confidential data. This data can include customer information, financial data, and product information. A cannabis cyber liability policy can help you bounce back from a data breach and protect your customers' information from future breach attempts.

3) Hacking attacks

A hacking attack takes place when someone breaks into your marijuana company's computer systems and steals or destroys your data. Many people mistakenly assume hacking is limited to larger companies, but the truth is that businesses of all sizes get hacked. Cannabis cyber liabilities are designed to help you recover from hacking attacks so you can regain the trust of your customers.

4) Viruses and malware

A virus or malware is a piece of software that is designed to damage or destroy your computer systems. This can result in the loss of data, customers' information, and money. A cannabis cyber liability policy can help you get your business back up and running after a virus or malware attack.

5) Third-party risks

Third-party risks, also known as phishing scams, are when your business's computer systems are hacked by someone else using stolen credentials. A cannabis cyber liability policy can help you protect yourself against third-party risks by providing coverage for damages caused by hackers using stolen credentials.

If you're running an online cannabis business, it's important to get a cannabis cyber liability policy to protect yourself against these threats. Contact an insurance broker today to learn more about how cannabis cyber liabilities can help protect your business.

For more information, contact a local company, like Millers Insurance Group.