Cyber Liability Insurance
Cyber Liability Insurance Information
What is Cyber Liability Insurance?
Cyber liability insurance may help your company deal with the financial consequences of a cyberattack. It can also help mitigate further harm to an organization and pay for third-party damages.
The data that your company creates and collects is valuable, and an incident involving widespread data loss could cause financial losses for your customers and your company. The consequences of business interruption and reputation damage are also a valid concern for companies seeking protection from cyberattacks.
Talk with the agents at RCS Insurance in Reno, Nevada, to learn more about how cyber liability insurance can help provide crucial financial protection.
What Does Cyber Liability Insurance Cover?
Commercial cyber liability insurance helps to indemnify companies and individuals affected by a data breach or other cyber security issue a. Coverage options can include:
- Legal fees
- Forensic investigations
- Regulatory expenses
- Crisis management expenses
- Business interruption
- Cyber extortion costs
A company doesn’t typically have protection from hardware damage with cyber liability insurance. However, your commercial property insurance policy may help pay to fix hardware damage.
Who Needs Cyber Liability Insurance?
No matter how strong a company’s data security system is, no organization can be 100% sure that it won’t face a data breach or other cybersecurity incident.
Companies affected by a cyber incident often spend time and resources responding to the attack and mitigating reputational damage. They may need to help customers secure their identities and recover financially. They may also require help from legal experts who understand damage control and regulatory notification rules.
Cyber liability insurance helps companies recover from the potential financial challenges caused by a cyberattack.
Get the Cyber Liability Insurance Your Company Needs
RSC Insurance can help you get the cyber liability insurance coverage you need. Contact us today to learn more about how this coverage works and get a quote.