CYBER LIABILITY
There’s a new generation of digital risks.
Modern cyber attacks have become increasingly sophisticated. They’re not only highly technical, but psychological, using deceptive social engineering schemes, phishing, spoofing and identity-based techniques.
The targets are more widespread as well. Cyber Liability is a must for any business collecting data, and it’s a good idea even if you only have an email address or website. Some criminals focus on the types of businesses that assume they’re not worth targeting.
In short, no one is immune.
We know Cyber Liability can be daunting, especially if you don’t have a dedicated IT department. Our Commercial Insurance team can help by providing ongoing education, application assistance and the carrier relationships necessary to upgrade your coverage.
After the hack:
Your legal (and financial) responsibilities.
When a data breach or cyber attack happens, the hard work starts for your business. You have post-breach responsibilities, mandated by law — notifying those affected, providing credit monitoring services, and setting up call centers, for example.
If you don’t have coverage, those remediation expenses are out-of-pocket. That’s why, beyond the coverage itself, incident response resources are often the most valuable and critical part of a Cyber policy.
General liability isn’t cyber liability.
Many business owners and executives share a common misperception: that general liability will provide coverage in the event of a digital breach. Unfortunately, that’s not the case. Even a strong, custom General Liability policy placed with a reliable carrier partner needs to be augmented by Cyber Liability insurance.
A loss with no breach.
A little known fact that’s relevant to nearly every business: You don’t have to be the target of an attack to need Cyber Liability. You just need a website.
Media Liability, which is typically part of a Cyber policy, can help your business respond to allegations of defamation, libel, copyright infringement or other legal and financial repercussions based on errors or omissions in your published content.
There’s no breach, but there’s still a risk.
Complementary Services
Managing your risk,
from multiple angles.
Cyber Liability is one (increasingly important) part of an integrated risk management strategy. Explore additional ways to help protect the people and communities you care about. Review our approach to:
