Cyber Liability Insurance

What Does Cyber Liability Insurance Cover?

Cyber Liability Insurance can cover costs associated with data breaches and cyber-attacks on your business. Those costs can include such things as:

• Legal services to help you meet state and federal regulations
• Notification expenses to alert affected customers that their personal information was compromised
• Extortion paid to recover locked files in a ransomware attack
• Lost income from a network outage
• Lawsuits related to customer or employee privacy and security
• Regulatory fines from state and federal agencies

Cyber liability policies typically include three key components: data breach expense reimbursement; network monitoring services; and third-party vendor notification expenses.

Who Needs Cyber Liability Insurance

Every type of organization, from global companies to mom-and-pop shops that use technology to do business, face cyber risk. As technology becomes more complex and sophisticated, so do the threats that businesses face. It’s not a question of if your organization will suffer a breach, but if it does will your business be ready?  Click here to find out why ALL businesses need cyber insurance.

Any business or individual who handles sensitive data, utilizes email, takes credit card payments, and/or has a website is at risk of being hacked.  Not only does Cyber Insurance provide protection for your company, but it also protects customers from identity theft and other types of fraud. Often, mistakenly, certain business types think they don’t need Cyber Insurance, but this is not the case in today’s business economy.  Click on any of the following to find out specific risks a Contractor, Manufacturer, or Retailer may face when it comes to Cyber Crime and how insurance will protect you!