Cyber Liability Insurance
With continuous advances in technology, it’s important now more than ever to protect your business from the digital world. Cyber Liability Insurance will protect your business in the event of a loss that results from a computer or technology problem. Whether your system gets hacked, or a computer/device containing sensitive information is lost or stolen, cyber liability insurance will provide the necessary coverage for your business to bring you back to whole and keep operations running smoothly.
What Does Cyber Liability Insurance Cover?
Depending on the type of loss, here are some aspects of your business that may be covered:
If your business is dependent on your digital network to generate revenue, this type of coverage will replace any lost income during a covered loss.
Get reimbursed for any costs needed towards public relations services during a covered loss related to combatting negative publicity. Also some legal fees may be covered.
In the realm of digital assets, your business property extends beyond the physical items. Cover expenses associated with the replacement, restoration, and repair of compromised or lost data and sensitive information.
Coverage for expenses related to ransom demands, and the response to threats aimed at compromising a system or exposing sensitive data.
And More!
How Much Does Cyber Liability Insurance Cost?
This type of coverage is typically very affordable. Here are some factors* to consider that may determine your rate:
Our team will work with you to customize a policy best suited for your business’ needs. Depending on the level of coverage and any extra endorsements that are added, create a plan that will provide the right amount of coverage while staying within your budget.
If your business has a greater number of employees and technology resources (cellphones, laptops, desktops, etc.)- the rate may be affected since there are more assets that need protection.
If the industry of your business is at higher risk and more susceptible to cyber-attacks, you may experience a higher rate for your policy.
** factors may include but are not limited to list **
What Type of Businesses Need Cyber Liability Protection?
Regardless of the size of your business, how many employees you have, what industry you work in, and more… if any aspect of your business is connected to the digital world, you most likely need Cyber Liability Insurance.
- Businesses of All Sizes
- Businesses in All Industries
- Accept payments digitally with credit card, EFT, etc.
- Collect sensitive information digitally and keep digital records of confidential information
- Any business use requiring cell phones, tablets, laptops, desktops, or any other type of electronic device
Pro Tip-
Bundle a Cyber Liability policy with your Business Owners Insurance or General Liability Insurance to ensure all aspects of your business are covered. You may even receive a multi-policy discount and save money on both policies!
Connect with a Local Agent to Learn More
With hackers, spam, and fraud on the rise- give yourself peace of mind knowing you and your business have coverage in place to stay protected from the digital world. Some businesses never recover from an attack, facing significant financial losses or even lawsuits. Talk with one of our local agents today to create a plan that’s best for you so you can focus on what matters most- your business.