Sadly, cyber crimes and data breaches are so common these days. Data breaches result in major fines, huge legal fees and unimaginable stress. All organizations using computers, technology, and customer data are susceptible to data being hacked or getting their systems corrupted by viruses. Cyber insurance becomes as important as any other business insurance
According to insurancejournal.com, 55% of small businesses experienced a data breach and 53% of businesses have had multiple data breaches, isn’t that a cause of concern?
Get in touch with EZ Online Service to know more about Cyber Liability insurance.
What is Cyber Insurance?
The cyber liability insurance policy provides businesses with a combination of coverage options to protect the company from cyber security issues and data breaches. Cyber insurance usually covers your business' liability involving data breaches of sensitive customer information, like their Social Security numbers, bank details, driver's license numbers, credit card numbers, and health records.
What is covered under cyber liability insurance?
Cyber liability insurance can significantly protect businesses from the steep costs of a data breach or malware attack. It can cover expenses like customer notification, legal fees, credit monitoring, and fines.
Should I get cyber liability coverage?
Cyber liability insurance, also called cybersecurity, privacy, and media liability insurance, helps your company:
Respond in the event of a data breach or cyberattack. In the event of your network or computer systems being hacked or corrupted by a virus, cyber liability insurance can be of big help.
Recover after a data breach, with costs that can include revenue loss, business disruption, equipment damages, public relations expenses, legal fees, forensic analysis, and costs related to legally mandated notifications.
