Cyber Liability Insurance
Cyber insurance helps small businesses manage the expensive fallout from data breaches or cyberattacks. It covers costs like notifying affected customers, credit monitoring, legal fees, and regulatory fines.
What is cyber liability insurance?
Cyber liability insurance covers costs related to lawsuits and damages arising from data breaches, cyber extortion, network failures, and other cyber incidents. These risks affect both technology-focused and traditional businesses alike.
If your business stores or manages sensitive customer data—like Social Security numbers, addresses, or credit card details—you likely have legal responsibilities to protect that information. Cyber liability insurance is essential for shielding your business from the financial and legal consequences of cyber threats.
Do I need cyber liability insurance?
What does it cover?
Cyber liability insurance offers protection for both:
First-party coverage
Expenses related to breaches or attacks on your own systems, including data recovery and notification costs.Third-party coverage
Liability if a client’s data or system you manage is compromised, covering legal fees and settlements.
Together, these coverages help reduce the financial fallout from cyber incidents and keep your business resilient.