This coverage generally covers your business liability for a cyberattack or data breach involving sensitive clients’ information; such as social security numbers, account numbers, driver’s license, etc. It protects from the compromise or theft of electronic data that could have a negative impact on business, like loss of clients and revenue.
What is Cyber Liability Insurance?
Cyber Liability is an insurance coverage that covers your business for a range of liability and property losses that can result from a cybercrime, such as a data breach, phishing, ransomware, malware or social engineering.
Why should I buy Cyber Liability insurance?
With our reliance on digital devices and applications increasing every day, cyber liability has become a vital coverage for business owners. Not only does it help you recover from incidents more quickly, but it also allows you to meet contractual obligations if a new contract requires you to have the coverage. The difficulties caused by cyber incidents vary and can include:
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