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Safe Bet?

Software insurance may cover your network's assets.

By Jacquelyn Lynn

Opinions expressed by Entrepreneur contributors are their own.

Last year, Citadel Security Software introduced theindustry's first security software performance warranty. Backedby insurance giant American Inter-national Group, Citadelguarantees security content updates within 4 hours. If it fails tomeet that commitment and a customer's computer network isattacked, the warranty will reimburse customers for related lossesup to the amount of the software contract.

Cybersecurity expert Christopher Faulkner, founder and presidentof CI Host, aweb-hosting and data center management company in Dallas, thinkssoftware insurance is a bold and innovative idea, but sayscustomers need to understand exactly what they're getting interms of both the software and the coverage. "Don't justbuy a package because it has insurance," he says. "Makesure you're getting a package that fits your specific needs andthat you clearly understand the terms of the insurance, theliability the company is willing to accept, and what you'd haveto do to activate an insurance payout." Also, don't dependexclusively on the product warranty to compensate you for losses.Instead, Faulkner says, be proactive by keeping your softwarecurrent, backing up your data, and implementing other onlinesecurity and data protection procedures.

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