14 Jan Does Your Business Have Cyber Insurance?
Now that just about every business has an online presence in one way or another, the need for cyber insurance protection is extremely important. Your business’s scope of liability greatly increases once it enters the realm of the internet. It is a much different place of business than the previously standard brick and mortar building. Being online means you open the doors of possible liability claims to a much larger client base.
Here are some of the things cyber insurance would cover for your business:
- Data breach/privacy crisis management- Say your business’s client information was somehow hacked by an outside source. The expenses related to that incident including management of an incident, investigation, remediation, data subject notification, call management, credit checks for all clients, legal costs, court attendance and regulatory fines would be covered under your cyber liability policy.
- Multimedia/Media liability- Example: A new hire unknowingly uses an unauthorized picture in a blog post for your website. The picture’s owner then sues your business for rights infringement. Your cyber liability insurance will cover you for intellectual property rights infringement.
- Network security liability- if your clients can not access your website due to some unforeseen network problem, your cyber policy will have you covered for lost business.
We know that every online business is unique and will require specific coverages to be fully protected from all that could go wrong. We will review your business’s model and online presence to see what type of policy would be right for you. We will then work within your business’s budget to make sure you have the premium that works for your business. Getting you the coverage you need at a price your business can afford is our priority. We want you to have all the protection your business needs for today’s growing online consumer territory.