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If electronic data stored on your firm’s computer system is lost, stolen, or compromised, the cost of restoring it can be significant. Moreover, your company may be liable for damages to third parties whose data has been stolen. Your firm may also incur notification expenses if your state requires you to inform those affected by a data breach. You can protect your business against the costs associated with data breaches by purchasing a cyber liability policy.

  • Cyber liability insurance covers financial losses that result from data breaches and other cyber events. Many policies include both first-party and third-party coverages. First-party coverages apply to losses sustained by your company directly. Such as, 
    •  Loss or Damage to Electronic Data – 
    • Loss of Income or Extra Expenses –
    • Cyber Extortion Losses – 
    • Notification Costs 

Virtually all cyber liability policies are claims-made. Some third-party coverages may be subject to retention. Such as: 

  • Network Security Liability 
  • Network Privacy Liability 
  • Electronic Media Liability – 
  • Errors and Omissions Liability 

Contact us today to see how we can help with your cyber needs