Cyber Liability Insurance
Cyber liability insurance, which is also referred to as security and privacy liability, data breach, network security, and cyber security insurance, is a type of business insurance designed to cover a business in the event of a hack or data breach where personal information such as social security numbers or credit card info are stolen or compromised by a criminal such as a hacker. Cyber liability coverage can sometimes be packaged into a business owners policy or as part of a professional liability policy, or written as a stand-alone policy.
Why Is Cyber Liability Insurance Important?
For many businesses, a data breach occurring is not a matter of if it will happen, but instead when. Most data breaches occur as a result of human error, system glitches, or malicious activity such as hacking, so no business is truly immune. The costs associated with cleaning up the aftermath of a breach can cripple a business if there is no cyber liability policy in place. With cyber liability coverage in force, businesses can potentially be protected for legal expenses and cleanup, third party liability for financial loss and other claims related to the breach, loss of income, fines and penalties, and more.
Who Needs Cyber Liability?
Any business can benefit from carrying some level of cyber liability insurance, whether as part of a general liability or professional liability policy, or as a stand-alone policy. We are able to provide cyber liability insurance for all types of businesses such as Architects, Auto Dealerships, Banks and Credit Unions, Business Consultants, Consultants, Data Storage Centers, Retail Stores, Online Retailers, Engineers, Educational Institutions, Financial Institutions, Healthcare Providers, Hospitals, Doctors and Medical Offices, Insurance Agents, IT Consultants, Law Firms, Management Consultants, Non-Profit Organizations, Pharmacies, Restaurants, Staffing Agencies, Tech Companies, Travel Agencies, Distributors, Manufacturers, and many more.
Coverage is available in most states, including Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington and Wisconsin.