Cyber Liability for Technology Businesses
Data breaches and cyberattacks can get expensive – especially if your company holds people’s sensitive data like banking information, medical records and contact information. A breach can severely impact your company’s reputation and bottom line.
Depending on your policy, cyber liability insurance typically covers:
- Cyber extortion
- Public relations and brand reputation recovery
- Businesses interruption and/or restoration expenses
- Regulatory fines and legal expenses
- Investigation and forensic expenses
These coverages do leave a lot of room for customization so its important to talk to a broker about what is specifically covered.