Cyber Liability Insurance
Cyber Liability Insurance Information
What is cyber liability insurance?
The cost of data breach and the reputational damage to your business after a breach occurs can be devastating. You need a well designed policy to provide the protection you need, and breach management expertise to ensure the breach is manage properly and in accordance with regulatory requirements. Federal and State laws require forensic, legal and credit monitoring services are in place after a breach to protect customer's data and personal information.
The sensitive customer data stored within company servers and in the cloud is vulnerable to attacks from hackers and other cyber criminals. Most people think only large corporations are in danger of cybercrime attacks. But, all businesses that use computers connected to the Internet are at risk.
What are the benefits of cyber liability insurance?
Data breaches occur every day. More than one-third of businesses experience a data breach each year. If a similar event happened at your business, would you be able to pay for the resulting damages?
Many cyber liability policies cover a variety of expenses associated with a cyberattack:
- Stolen data retrieval
- Reimbursement of fraudulent charges
- Identity protection services for customers at risk of identity theft
- Damage control for your business’ reputation
- Coverage for business interruption, lost income and restoration of data after a breach
- Legal fees associated with the attack
- And other cleanup efforts
A general liability policy often excludes losses incurred because of the Internet. A cyber liability policy can fill in that gap. It may be the difference between closing your business and making a comeback.
Get started today!
We can evaluate your business’s needs and find a policy that offers the best possible protection against cybercrime.