Cyber Liability Insurance
Cyber Liability Insurance Information
What is cyber liability insurance?
Cyber-liability insurance is used to protect businesses and individual users from Internet-based risks, and more generally from risks relating to information technology infrastructure and activities. Risks of this nature are typically excluded from traditional commercial general liability policies or at least are not specifically defined in traditional insurance products.
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 cyber-attack:
- Stolen data retrieval
- Denial of Service attacks
- 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
Other benefits including regular security-audit, post-incident public relations and investigative expenses, and criminal reward funds.
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.
We can evaluate your business’s needs and find a policy that offers the best possible protection against cyber-crime.