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In the 21st Century, technology is vital to conducting business. However, the same technology your business relies on can also leave it vulnerable to costly security threats. Cybercrime is big business and becoming increasingly more sophisticated with advances in technology.
No one is safe from cybercrime – not individuals, not small businesses, not even the largest corporations. Cyber liability insurance can help protect your business from major expenses, business losses, and regulatory fines and penalties should a data breach occur.
What Cyber Liability Insurance Covers
Cyber liability insurance is designed to cover losses related to hacking that other business policies will not cover. For example:
Minimizing Cyber Risks for Your Business
A good insurance agent can help ensure that you have maximum protection against cyber threats. Our agency will help ensure that you have the correct customized policies place to protect your network, or purchase social media insurance to reduce risk. If your data is stored in the cloud, cyber liability insurance can provide protection.
Policy premiums for cyber liability insurance will depend on industry, services, types of sensitive data, risks, and exposures, along with a number of other factors. Our agent can assist your with risk management and help ensure that your business has the cyber liability insurance coverage it needs.Filed Under: Business Insurance | Tagged With: Cyber Liability Insurance