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Cyber Liability Insurance

Cyber Liability Insurance protects your business against the expenses associated with a data breach. We will help you evaluate the data liability risks your business faces and find a policy that meets your specific needs.

Insurance that covers the risk of getting hacked

Getting hacked isn’t just a hassle, it also possesses a potentially huge and unexpected cost to your business. Cyber Liability Insurance is a specialized policy that’s customized to cover many of the risks your business faces from an information breach, and even covers some risks you might not have thought of.

What is covered?

A Cyber Liability policy can help you cover the expenses associated with a cyber hack. Additionally, some Commercial Liability policies cover loss of business while your systems are compromised or unavailable. You can even get coverage against inadvertently breaching someone else’s copyright.

What happens in the aftermath of a cyber hack?

A number of action steps must be taken once your business has experienced a cyber hack including:

  • Notifying customers and clients of the breach (a legal requirement in both states)
  • Restoring your business's website to working order
  • Dealing with extortion attempts
  • Paying damages to clients, customers and suppliers who lose out because of your breach

Ensure peace of mind

All of these steps can lead to a hefty, unexpected cost for your business. Not to mention, dealing with the aftermath of a hack could close your business temporarily, leading to loss of income.

Obtaining Cyber Liability Insurance can help potential risks because we’ll identify your current cyber defenses and identify potential weaknesses you need to plug.

Reach out. We’re here to help.

Cyber Liability Insurance 101

Make sure you cover the unique risks you face with Cyber Liability insurance.

  • 1 Click on the hotspots.
  • 2 Discover your risks.
  • 3 Get the right coverage.

Get A Quote

As an independent agency, we are here to help you find the right coverage.

  • 1 Fill out the form, we’ll be in touch.
  • 2 Go over your options with an agent.
  • 3 Get the coverage you need.

Get in touch with an agent today!

It only takes a minute to get started!

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Regulatory Claim Coverage

Risk Factor

If your business experiences a data breach or violation of confidential information during regular business operations, you may be found in violation of privacy laws and be required to pay fines for the violations or other regulatory issues.

Solution

You may be eligible for regulatory claim coverage which would offer protection in response to proceedings related to disclosure laws and other governmental actions that can result in defense costs, fines and/or penalties. Coverage does vary and may be restricted by local law.

Note: Actual policies must be consulted for specific terms and conditions.

Ransom Coverage

Risk Factor

If hackers gain control of critical systems, they may demand a ransom be paid to avoid additional consequences. Sometimes these can be empty threats, but it’s impossible to know for sure. Paying the ransom can be costly. Taking a chance by choosing not to pay can sometimes put a company out of business.

Solution

Coverage for ransom and cyber extortion can be included in cyber liability policies and can help cover the cost of ransom to regain control of network systems. This is often not included in a standard policy, may include a separate sublimit and deductible, and may require adherence to certain conditions set forth by the insurer.

Note: Actual policies must be consulted for specific terms and conditions.

Third-Party Coverage

Risk Factor

If your business handles sensitive customer data (such as email lists, credit card records or other files), data breaches pose a serious threat to your financial stability. A lawsuit resulting from a data breach means your business is responsible for paying legal fees, court-ordered judgments or settlements and other court-related costs.

Solution

Third-party coverage protects you in the event of a lawsuit brought by a customer or partner for a data breach that your business’ actions or negligence allowed.

Note: Actual policies must be consulted for specific terms and conditions.

Cyber Liability Coverage

Risk Factor

The Internet has spun a whole new web of liability exposures. E-commerce, social networking, cloud storage, and other technologies bring great benefits to large and small businesses alike. But with these benefits also come challenges, including protection of privacy, data, and financial information of your customers. If this information is lost, stolen, or compromised, your company is at risk. In fact, you may even be required by law to alert those impacted by the breach and to pay for any financial loss incurred.

Solution

Cyber liability coverage offers protection due to unauthorized access of electronic data or software within your network. It also provides coverage for spreading a virus, computer theft, extortion, or any unintentional act, mistake, error, or omission made by an employee. This coverage is quickly becoming more and more important as you embrace technology to help run your business.

Note: Actual policies must be consulted for specific terms and conditions.

First-Party Coverage

Risk Factor

If your company is faced with a data breach or cyber-attack, you may be forced to cover breach-related expenses such as crisis management, hiring a public relations firm to manage a data breach incident, costs associated with forensic analysis, the cost of repairing and restoring computer systems if there is a virus that destroys business software and data, and the loss of business income resulting from a data breach.

Solution

First-party coverage will insure your business for losses to your own data or lost income or for other harm to your business resulting from a data breach or cyber-attack. This coverage will pay you for things like business interruption, the cost of notifying customers of a breach, and even the expense of hiring a public relations firm to repair any damage done to your image as a result of a cyber-attack. Having this funding available in the event of a crippling hack can keep the lights on till you’re able to resume your normal business operations.

Note: Actual policies must be consulted for specific terms and conditions.

Business Income

Risk Factor

What would you do if an email virus impacted the operation of your database and prevented you from serving clients for a day or more? Or what if a hacker or cyber-criminal caused a system outage or extended downtime, leaving your business inoperable? These and other events can destroy your ability to serve clients and bring in revenue, which can have a major long-term impact on the viability of your business.

Solution

Business Income and Business Interruption coverages help with financial hardships, such as loss of income or operating costs, that you bear due to a covered incident.

Note: Actual policies must be consulted for specific terms and conditions.

Get A Quote

As an independent agency, we are here to help you find the right coverage.

  • 1 Fill out the form, we’ll be in touch.
  • 2 Go over your options with an agent.
  • 3 Get the coverage you need.

Get in touch with an agent today!

It only takes a minute to get started!

Name