Cyber Liability Insurance

Cyber Liability policies can be designed to fit the specific needs of your business and provide coverage for liability that arises out of the unauthorized use of, or unauthorized access to, electronic data or software within your network or business.

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Cyber liability is a question of “WHEN” not “IF”

Data drives the organizations of today’s world. Business of all sizes have had a cyber attack or data breach, with the average cost to rectify rising to $6.5 million per occurrence. One stolen laptop, one careless employee, a virus or even paper records that fall into the wrong hands, can create a financial and reputational consequence affecting your business for years to come.

Why is Cyber Liability Coverage so Important?

It addresses both the first-party and third-party risks associated with e-business, the Internet, networks and informational assets. It also provides coverage for liability claims as a result of spreading a computer virus or malicious code, computer theft, extortion, or any unintentional act, mistake, error or omission made by your employees while performing their job.

First party coverages include:

Loss of Digital Assets

Losses you incur as a result of damage, alteration, corruption, distortion, theft, misuse or destruction of electronic data.

Non-Physical Business Interruption

Loss of income, interruption expenses and special expenses incurred as a result of the interruption in service or failure of the computer system.

Security Event Costs

Reimbursement for notification, forensics and credit protection services along with costs incurred for fines and penalties (where insurable).

Cyber Extortion Threat

Reimbursement for extortion expenses and monies resulting from a credible threat.

Cyber Terrorism

Reimbursement for loss of income, interruption expenses and special expenses incurred as a direct result of the interruption in service or failure of the computer system due to an act of terrorism.

Security Event Costs

Reimbursement for notification, forensics and credit protection services along with costs incurred for fines and penalties (where insurable).

Third party coverages include:

Network Security and Privacy Liability

Legal liability for a security or privacy breach resulting from alleged violations of laws and regulations.

Employee Privacy Liability

Legal liability for a security or privacy breach of employees’ personal information.

Electronic Media Liability

Defamation, libel and slander
Invasion of an individuals right of privacy or publicity
Infringement of any copyright, trademark, title or service mark
Domain name infringement

Who is cyber liability insurance for?

Cyber liability coverage is available for any business, small and large, nonprofit organizations, and retailers. You may be able to save on costs by bundling coverage with another policy to create a comprehensive suite of business liability coverages.

We can help you assess the risks to your business and get you the protection you need in today’s data-reliant world.

Why we're different

While most insurance products are similar in price and function, insurance providers vary when it comes to structuring a policy tailored to you.

After all, there’s no such thing as a one-size-fits-all insurance policy when it comes to your business.

Contact us today, and we'll help you protect what matters most.

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