WHAT IS CYBER LIABILITY?

Cyber liability insurance is a type of insurance policy that protects businesses from the financial losses that may result from cyber-attacks or data breaches. These types of incidents can lead to compromised customer information, business disruption, and even legal action, resulting in significant financial losses for a company.

If you’re interested in learning more about Cyber Liability insurance policies or would like to request a quote, please contact us today. We look forward to working with you!

Why do I need a Cyber Liability policy?

In today’s digital world, cyber-attacks and data breaches are becoming increasingly common. These incidents can occur even with the strictest security measures in place, and they can happen to any company – whether it be a large corporation or a small start-up. This is why it is crucial to consider cyber liability insurance as part of a company’s overall risk management strategy.

Cyber liability insurance policies can provide coverage for a range of expenses that may arise from a cyber-attack or data breach, including:

• Legal expenses and liability for damages to third parties, such as affected customers or partners
• Business interruption expenses, including lost income and profits resulting from a cyber-attack
• Costs associated with investigating the incident, including forensic analysis and communication with affected parties
• Reputation damage control and public relations expenses

Cyber liability insurance policies are customizable and can be tailored to meet the unique needs and risks of a business. For example, a policy may provide coverage specifically for certain types of cyber-attacks, such as ransomware or phishing scams. It may also cover expenses related to cyber extortion or payment card industry (PCI) fines.

With the increasing prevalence of cyber threats, cyber liability insurance is an important consideration for businesses looking to protect themselves from the financial losses that can result from cyber-attacks and data breaches. It is essential for companies to take proactive steps towards mitigating their cyber risks, including the purchase of cyber liability insurance. As an independent insurance agency, we are committed to helping our clients understand their risks and providing them with the coverage they need to stay protected.

If you’re interested in learning more about Cyber Liability insurance policies or would like to request a quote, please contact us today. We look forward to working with you!