Cyber Liability Insurance
What is Cyber Liability insurance?
Cyber Liability insurance is a specialized insurance coverage for risks related to cyber security issues, including cyber attacks, data breach, denial of service and ransomware. These threats have become more prevalent in the digital era and can happen to any business or organization, regardless of size or industry.
Who needs Cyber Liability insurance?
In this digital age almost every business that uses the internet and can be exposed to cyber related risks. Both large and small businesses and organizations are at risk of cyber attacks. This includes online stores, retail businesses, service industries, manufacturers, financial institutions, health care businesses, government organizations and more.
According to the FBI’s Internet Crime Report 2021, a record 847,376 complaints of cyber-crime were reported to the FBI by the public, a 7 percent increase from 2020, and potential losses exceeding $6.9 billion.
What does Cyber Liability insurance cover?
Cyber Liability insurance typically provides coverage for:
- Legal Fees & Expenses
- Customer Notifications
- Credit Monitoring
- Data Recovery
- Computer & Systems Restoration
- Incident Consultation
Cyber Liability insurance programs often include programs to help you manage Cyber Liability risks from data breaches, data loss, denial of service attacks, malware, viruses and more.
Contact an insurance agent for more information
If you own or manage a business or organization, it is likely that you will need Cyber Liability insurance. Contact us for an insurance agent in your area that specializes in Cyber Liability risks to find a plan that best meets your needs.Find an Insurance Agent Near You