cyber liability insurance
What is Cyber Liability Insurance?
Cyber liability insurance protects small businesses from the high costs of a data breach or malicious software attack. It covers expenses such as customer notification, credit monitoring, legal fees, and fines.
Why Do You Need Cyber Liability Insurance?
Cyberattacks and data breaches are expensive and increasingly common. Small businesses often have weak cybersecurity, which makes them an attractive target.
A cyberattack isn’t just an inconvenience – it can put you out of business. In fact, 60% of small businesses go under within six months of a cyberattack.
Cyber insurance coverage helps your business recover from financial losses caused by cyberattacks and data breaches. It can pay for credit monitoring, attorney’s fees, fines, and other costly expenses.
What Does Cyber Liability Cover?
Many small businesses use computers to send, receive, or store electronic data. Important data may be contained in sales projections, tax records, contingency plans, and other company documents. If such information is lost, damaged, or stolen due to a security breach, it may be difficult and costly to restore.
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