Cyber Liability Insurance
Cyber Liability Insurance Information
Cyber liability insurance can provide essential coverage for businesses that store or process sensitive client information. No matter what cyber risk management techniques are in place, computer systems and networks are vulnerable to data breaches and data loss.
Atlantic International Company of Georgia can help you secure the cyber liability policy that best suits your needs. Contact us today for more information.
What Is Cyber Liability Insurance?
Cyber liability insurance is also called cyber insurance or cyber security insurance. It is a policy that can protect your business and clients from cybercriminals, hackers and data loss events. Standard commercial policies may not insure these against exposures, but having the proper cyber liability insurance policy can help fill this gap and reduce your out-of-pocket burden.
What Does Cyber Liability Insurance Cover?
Cyber liability insurance can help pay for your business’s damages and recovery costs after cyber security incidents such as:
- Cyber extortion events.
- Data breaches.
- Malware, phishing and ransomware attacks.
- Unintentional releases of confidential information.
- Malicious destruction of data.
These payments may be used to:
- Notify affected parties.
- Replace lost data.
- Pay for cyber extortion-related expenses.
- Investigate the cause of the cyberattack.
- Pay for credit monitoring services for impacted clients.
- Cover lost income after a data breach.
- Pay for regulatory fines, fees or penalties.
- Recover stolen data.
- Pay for crisis management and public relations to help restore your business’s reputation.
Coverage for other cyber security events and costs may be available. Your insurance agent can provide more details regarding terms, limits and exclusions.
What Can Cyber Liability Insurance Protect Clients From?
Cyber liability insurance may also cover legal costs (e.g., defense costs, settlements and judgments) if a client files a lawsuit for financial losses they sustained after a cyber security event. The proper cyber liability policy can help ensure they are compensated.
How Much Is Cyber Liability Insurance?
Several factors may impact cyber liability insurance premiums. Your industry, coverage limits and the amount and type of data your business stores or processes may affect its costs. Contact us for a cyber liability insurance quote.
Get Cyber Liability Insurance
Securing the right cyber liability insurance coverage is crucial for your business. Reach out to an Atlantic International Company of Georgia agent today to get started.