You’ve probably heard of major companies having their emails or credit card systems “hacked”. You might have even received a notice that your information was compromised.
Data breaches are becoming a fact of life and they can have significant costs associated with them. An option to help manage this risk and the costs involved is Cyber Liability Insurance.
Although Cyber Liability Insurance may sound like something new, it has been available for around 10 years.
So what is Cyber Liability Insurance? This term is used to describe a range of coverages relating to various electronic activities a business engages in. Options range from data breach & privacy management to network & computer system defense.
It is important to determine what your current level of risk is and what incidents you want to be covered for. Then you will be able to determine the type of coverage you need.
As the occurrence of breaches and the expense of dealing with them increases, the option of Cyber Liability Insurance will become more attractive for many businesses. Contact our Commercial Department today to learn more!