As our world becomes increasingly digital, the incidents of cyber security breaches increase. Cyber liability insurance covers your liability in the event that your company experiences a security breach either internally, from a hacker or a third-party vendor. Cyber security breaches can often result in losses of several types. Don’t leave yourself, your company, your employees and your customers unprotected. Don’t be without Carmel cyber liability insurance.
What Costs Are Associated with a Security Breach?
In the event that your company experiences a cyber security breach, the sensitive information of you, your company, your employees and even your customers may be compromised. This can result in serious costs connected to credit card monitoring, notifying your customers and vendors, crisis management and the forensic costs associated with identifying the source of the breach. Carmel cyber liability insurance covers your costs in the event of this type of breach. Your general liability policy will not do if you experience a cyber security breach.
What Does Cyber Liability Insurance Cover?
Depending on your business and your risks of exposure, a customized plan can be built that may cover:
- Your liability for security breaches
- Any business interruption and costs associated with a breach
- Costs associated with notifying and appropriately supporting customers
- Liability costs associated with slander, libel and any copyright infringement resulting from a security breach
Unfortunately, with cyber security breaches, it’s not so much a question of “if” but “when” for many businesses. Don’t leave your business unprotected. Consider Carmel cyber liability insurance.