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Cyber Liability Insurance

Cyber Liability Insurance

Technology is a wonderful thing but unfortunately, businesses of all sizes have been victimized by hackers, viruses, social engineering and ransom attacks. According to the 2017 Symantec Internet Security Threat Report, 55% of small business owners experienced a cyber attack in the 12 months prior.

“Wannacry” is for real.  The internet is evolving and mobility is increasing through laptops, tablets and smart phones.  Cyber risks are increasing daily.  Unfortunately, you can’t be protected simply with software and firewalls because only half of all incidents are criminally related.  The 2017 Ponemon study shows that non-malicious incidents like employee negligence and system glitches are also a major cause.

Only 48 states have security breach notification laws but beginning in May, 2018 anyone who markets to customers in the EU will need to be aware and comply with European law.  While the cost of notification is substantial, it is the time factor that is most crucial.  

Also, all Cyber Liability coverage is not the same.  A good Agent will ask the right questions to protect your business and not just your customers.  Some of the coverages include:   

  • Digital asset coverage
  • Digital media coverage
  • Business interruption
  • Internet liability
  • Web content liability
  • Electronic communication
  • Network security

For a free Cyber Liability insurance quote, contact a Premiere Agency Network insurance agent today.