Cyber Liability Insurance
Cyber Liability Insurance Information
What is cyber liability insurance?
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?
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
- Includes coverage for legal fees and computer forensic costs in the event of a security or privacy breach
- Regulatory fines and penalties Security Event Costs and PCI assessment available by endorsement
- Customer Notification Expenses include legal expenses, credit monitoring, postage and advertising
- Reimbursement of fraudulent charges
- Identity protection services for customers at risk of identity theft
- Damage control for your business’ reputation
- Legal fees associated with the attack
- And other cleanup efforts
First Party Protection
- Loss of digital assets coverage
- Non-physical business interruption and extra expense
- Cyber extortion
- Cyber terrorism
- Security event costs
Third Party Protection
- Network security and privacy liability
- Employee privacy liability
- Electronic media liability
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.