Cyber Liability Insurance also known as cyber and privacy insurance is Insurance coverage for your business. It is important to get the quote to find the cost of the cyber liability insurance Insurance.
What is Cyber liability insurance?
Cyber liability insurance is a type of insurance that offers businesses a variety of coverage options to help protect them from data breaches and other cyber security issues. It’s not a matter of if, but of when your organization will be breached. Travelers’ cyber insurance policyholders can also gain access to tools and resources for managing and mitigating cyber risk both before and after a breach.
Who Needs Cyber Liability Insurance?
Cyber risk affects every type of organization, from global corporations to small businesses that use technology to conduct business. The threats that businesses face are becoming more complex and sophisticated as technology advances. This is why, in order to manage and mitigate cyber risk, every business and organization must have both cyber liability insurance and an effective cyber security plan in place. We understand the complexities of cyber threats at Travelers. We have solutions to assist you in insuring and protecting your business assets.
Reasons to Have cyber and privacy insurance
If you’re like many people, you’re more connected than ever before. Our homes are wired to the max, from cell phones to digital personal assistants. Our phones, TVs, and even our appliances are increasingly Wi-Fi enabled. While these connections provide numerous benefits, they may also introduce new cyber threats into your home.
Computer viruses and phishing emails are not new concepts, but numerous other threats are emerging and occurring at an increasing rate. Any of them could be after you or your family. Acuity offers an Identity Fraud Expense and Cyber Protection endorsement to help protect our homeowner customers from the growing number of cyber threats. This industry-leading cyber coverage protects against financial loss caused by identity fraud or a cyber-related event, such as:
Identity Fraud Expense reimburses expenses incurred as a result of recovering one’s identity.
Data Recovery and System Restoration > coverage reimburse the cost to recover lost data and/or repair your devices after a hacking attack.
Cyber Crime coverage can apply to a variety of criminal activities such as wire transfer fraud, credit card fraud, and phishing attacks.
Cyber Extortion coverage reimburses in a situation where an insured may be denied access to a device until paying a ransom amount.
Cyber Bullying coverage provides reimbursement for financial loss caused by online harassment or bullying.
Data Breach of Others coverage provides reimbursement for necessary costs associated with notification of others in the event a cyber event causes a breach in the personal information of others.
Legal Expense and Damages Reimbursement applies if someone claims you are responsible for the loss of their personal information, or if accused of cyberbullying.
This coverage is also available to homeowners who operate a home business and carry the Home-Biz endorsement.
Cyber liability insurance Costs and Quotes
cyber liability insurance cost is different by your needs and insurance companies. Acuity’s Identity Fraud Expense and Cyber Protection is a comprehensive protection for you and your family in a world of evolving risk. Ask your independent agent to add this coverage to your policy today. You can get the quote here.