Cyber Liability Insurance
Cyber Liability Insurance Quote Forms
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Cyber Liability Insurance Information
Businesses of all sizes are vulnerable to cyberattacks and data breaches. Cyber liability insurance can provide essential coverage for these risks.
The team at EG Insurance Agency, Inc. can work with you to help you find the optimal cyber liability insurance policy for your business. Contact us today to get started.
What Is Cyber Liability Insurance?
Cyber liability insurance, also known as cyber security insurance or cyber insurance, can provide financial aid after a cyber security incident. These payments can help mitigate the losses to your businesses and reduce your out-of-pocket costs. They can also compensate your affected clients and be used to help your business recover from the event.
Who Needs Cyber Liability Insurance?
Any business that processes or stores confidential or sensitive data (e.g., health records and credit card information) should consider securing cyber liability insurance. Even with antivirus software and other cyber risk management techniques, technology systems are vulnerable to data breaches and data loss. Your other commercial insurance policies may not provide coverage for these events, but the proper cycle liability insurance policy may help fill the gap.
What Does Cyber Liability Insurance Cover?
Cyber liability insurance may cover internal or external cyber security events, such as:
- Malware, ransomware or phishing attacks
- Data breaches
- Accidental releases of sensitive information
- Malicious destruction of data
- Failures of computer security systems
After these or similar incidents, cyber liability insurance may help pay for the costs to:
- Notify impacted parties.
- Cover lost income due to the cyber security event.
- Provide credit monitoring services to affected parties.
- Help your business rebuild its reputation.
- Cover cyberextortion-related expenses.
- Retrieve lost data.
- Investigate the cause of the data breach.
- Cover legal expenses (e.g., defense costs, settlements and judgments) that arise from third-party lawsuits related to the cyber security event.
Coverage for other cyber threats and expenses may be available. Contact your insurance agent for details regarding terms, limits and exclusions.
Get Cyber Liability Insurance
The experienced team at EG Insurance Agency is ready to help Anaheim and Riverside, California, area businesses obtain the right cyber liability insurance policy. Contact us today for more information or a quote.