What Does Cyber Liability Insurance Cover?
Cyber-attacks occur every 39 seconds and 50% of these attacks are on small businesses. Like most businesses, you probably store most of your data online. If any of this data is lost or stolen, your business could face detrimental consequences. With many businesses transitioning to a remote workforce, Cyber Liability Insurance is more important than ever.
Cyber Liability Insurance can help mitigate the risks and financial losses that come with a cyber breach or similar event.
So, what does Cyber Liability Insurance cover?
This covers a company’s own damages from cyber losses.
- Electronic data damage
- Income loss
- Cyber extortions
- Notification costs
This provides liability coverage for businesses that are responsible for a client’s online security.
- Network security and privacy liability
- Electronic media liability
- Regulatory Proceedings
In today’s world, everything is online or in the cloud. To ensure your business and your clients are protected, purchase cyber liability insurance.
Speak to your local agent to learn more about how Cyber Liability Insurance can protect your business.