Zander Insurance Group introduced a new Data Breach Insurance product to help small- to mid-sized companies minimize their financial and reputational exposure should a data breach occur.

The Nashville, Tenn.-based company uses a three-tiered approach to data breach protection which addresses prevention, insurance and resolution services and offers a free preventative assessment through its website. The assessment assists in identifying key areas of vulnerability relates to a company’s data security practices, the company said.

Jeffrey Zander, president of Zander Insurance Group, said in a statement that while most business owners think a computer hacker is the source of  the most likely breach, theft of computer or paper files can also “devastate a company’s financial stability and consumer confidence.”

“Companies can no longer assume that their clients don’t care about the security practices a company employs to protect their personal information,” Zander said. “The way a business responds can make the difference between survival and extinction.”

In addition to their data breach liability program, Zander Insurance Group offers individual, business and employee benefit programs.