Protect your Business from Cyber Attacks with the Right Insurance Policy

In today’s business world, it is almost impossible to operate without using a computer, which means that there is a higher chance of a cyber-attack. Luckily, cyber liability insurance is available to make sure that you company and your client’s private information is protected.

A cyber liability insurance policy helps to protect against both third party and first party exposures. Typical third party coverage options include:

  • Privacy liability or network security – will provide coverage in case of a breach of network security or privacy liability breach, attack, compromise, denial of service and more.
  • Media/electronic liability – will provide coverage for any personal or advertising injury that are the result of distributing printed and electronic materials.
  • Regulatory liability – will provide coverage to any regulatory penalties or fines that are imposed due to a privacy liability or network security event.

Typical first party coverage options for cyber liability include:

  • Costs of notification – will cover the cost to notify all of your clients of possible identity theft due to a breach, customer support, public relation expenses, credit monitoring expenses, and more.
  • Business interruption – will cover the lost income if you are forced to shut down due to a named event.
  • Cyber terrorism – will cover the cost in case of a cyber terrorism event or threat.
  • Cyber extortion – will cover the cost in case of a cyber extortion threat.
  • Loss of any digital assets – will cover the cost to recover or restore any digital data that is corrupted or lost during a cyber issue.

For all of your cyber liability insurance policy coverage needs throughout New York to ensure that your business and clients are covered in any unfortunate situation, contact the insurance professionals at Alliance Group in Fairport, New York. We can help to ensure that you have the best coverage options that best fit the needs of your specific business.