Cyber & Data Breach

What is the coverage?

Cyber and Data Breach coverage is a policy that protects a business or an individual from the compromising of confidential information from a business whether it is done electronically or from a paper files.

What does it include?

Cyber Liability or Data Breach Insurance is offered in a modular structure with multiple coverage options based on your business and the protection you require. Cyber Liability/Breach policies can cover first party concerns such as business interruption, crisis management expenses, public relations expenses, extortion and threat expenses and privacy protection. In addition, Cyber Liability/Breach policies can also include third party coverage such as network security and privacy, media and contract liability, notification expense and regulatory actions and fines. While commonly called Cyber Liability, the protection can include paper files and actions of rouge employees.

Who should look at purchasing?

Due to the changing business landscape, all businesses today should consider purchasing a Cyber Liability/Breach policy. As a policy that originally started out as a form or error’s and omissions insurance, these policies have developed into fully encompassing programs that provide vital coverage for any small business whether you are a brick and mortar or a click and mortar store due to the electronic nature of today’s business landscape.

Why is it important?

All businesses today process transactions electronically, have Facebook pages, websites and twitter accounts. Most business participate in social media in some way, shape or form, and all businesses have some form of information about their customers that would be considered confidential, and detrimental to the business if it were compromised. All businesses today need to protect their vital and confidential information. Cyber Liability/Breach policies are some of the least expensive options for doing so, and the costs are miniscule as compared to the cost of remedying a breach after it has already occurred.