What is Cyber Liability Insurance?
Cyber Liability Insurance provides coverage for businesses in the event of cyberattack, data breach, or other digital security incident. Coverage typically includes expenses for data recovery, breach notification, legal fees, and public relations costs, along with liability for affected clients or partners. As cyber risks continue to grow in both complexity and frequency, cyber insurance is an essential component of modern rick management strategy.
Why Obtain Cyber Liability Insurance?
The increasing number and sophistication of cyber threats means that no firm is immune to potential attacks. Cyber insurance offers protection, covering the often-high costs of mitigating a data breach or security incident. Beyond just recovery, it ensures your firm is prepared for the legal and reputational consequences of a breach, helping to maintain client trust and minimize operational disruptions in an increasingly digital world.