Insurance for Retail Store POS system

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PostPosted: Fri Jul 26, 2019 8:26 pm   Post subject: Insurance for Retail Store POS system  

Hi Everyone!

Nowadays, we are recently looking for a sound retail POS system for our retail store from here and do you think the purchase of an expensive and top quality POS system will decrease the premiums of insurance?

In the same token, I am interested in asking should we also go for cyber insurance with computer coverage here to ensure our POS system? Actually, I am new in this business and expecting detailed answers from your side.

Hopefully, you will come with serious suggestions.

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PostPosted: Tue Jun 30, 2020 2:08 pm   Post subject:   

Cybersecurity has become a big concern nowadays, but I don't think any insurance can cover these mishaps. Though many companies over Cyber Risk Insurance which covers hacker theft, loss of revenue and data breach but I believe it is not enough.

Instead of it, you should talk with POS system providers about your security concerns. I recently purchased a rental POS system with a website from here and cleared all my security related doubts in the beginning. They installed a secure firewall against malware and updated it regularly. I also like their secure payments, and in this regard, they added almost 30+ payment gateways for rental POS. I think you should also talk with your POS system provider about your security concerns.

However, if insurance is essential for you, then you can try Cyber Risk Insurance with electronic products insurance.

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