What is Cyber Liability Insurance?
Cyber Liability Insurance is an insurance package available that is specifically tailored for companies with operations in the following areas:
- Internet Service Providers
- Web Hosting
- Network Integration Services
- Any company responsible for the safety of Customer Data
What does Cyber Liability Insurance Cover?
Cyber Risk Insurance is meant to cover such losses as Information security and privacy liability, Privacy notifications loss, regulatory defense and penalties, Cyber Extortion, Data Restoration, and more. Cyber Risk Insurance can also be tailored to cover your property such as Computers and other tools pertaining to your business.
Why do I need Cyber Liability?
Any company that is in charge of securing or holding data is at risk of a Cyber Liability claim. This can include data breaches where the customers sue the at fault party for damages. More recently you may have heard of a bank having to provide credit monitoring to customers who had their credit details leaked by a hacker, in this case the expenses to provide such services would be covered under a Cyber Liability Insurance policy.
How much does a Cyber Liability Policy Cost?
As with all insurance policies, this depends on some key factors regarding your operations and can include your annual revenue among other things. We are able to offer the lowest rates in the industry due to our access to multiple Cyber Insurance markets. If you would like to see how much we can save you on your Cyber Liability Policy, please Contact Us or Request a Quote.