Cyber Insurance vs. Cyber Warranty: What Myrtle Beach Businesses Should Know

Business owners hear “cyber insurance” and “cyber warranty” and often assume they are the same thing. They work differently, and many businesses benefit from having both.

Cyber insurance

Cyber insurance is a policy you buy from an insurance carrier. You pay a premium, and the policy covers certain costs after a cyber incident, subject to its terms, limits and deductibles. Insurers usually require proof of security controls such as multi-factor authentication, backups and employee training.

Cyber warranty

A cyber warranty is coverage that comes with your security provider’s service. It is designed to help cover costs if something goes wrong while you are protected by that provider.

Through PcRx, businesses can get $100,000 warranty coverage from CORK, valued at $199 per month.

A benefit for Chamber members

If you are an active member of the Myrtle Beach Area Chamber of Commerce, you can get the $100,000 CORK warranty free when you sign up for one of PcRx’s service packages. Chamber members also receive a free cybersecurity and dark web scan with report.

See the Chamber member offer

Why many businesses use both

Insurance and a warranty fill different gaps. A strong security program from your MSP lowers the chance of an incident, helps you qualify for insurance and can include warranty coverage. Insurance adds broader protection on top.

Ask about coverage

Want to know how the CORK warranty would apply to your business, or how to get ready for a cyber insurance application? Call PcRx at (843) 488-4100 or contact us.