Cyber Liability Insurance
Cyber Liability Insurance
Cybersecurity insurance protects businesses against financial losses caused by incidents like data breaches and theft, system hacking, ransomware extortion payments and more.
If your firm stores sensitive information such as names, addresses, Social Security numbers, account numbers, etc. on any type of computer system on or offline, you have an obligation to keep that data secure. You need cyber liability insurance coverage.
Cyber Liability coverage is intended to include the costs of:
- Restoring lost or compromised data
- Legal defense
- Regulatory defense expenses/fines
- Crisis Management expenses
- Notifying customers and credit monitoring
- Losses attributed to Cyber Crime such as social engineering, funds transfer fraud, ransomware costs, negligent transmission of a virus
- Business Interruption including lost Income from network outage
- Repairing damaged systems
We work with several different carriers who assess your exposures and offer solutions to help you recover from a cyber-security incident.
