Cyber liability insurance
Technology errors and omissions insurance (tech E&O) and cyber insurance are two forms of protection against cyberattacks for small businesses. While tech E&O focuses on cybersecurity errors that harm your clients, cyber insurance offers financial coverage for breaches that directly affect your business.
Technology errors and omissions insurance (tech E&O) covers providers of technology products or services when they are accused of negligence, mistakes, or oversights. It also covers data breaches that affect a tech business's or client’s operations.
Depending on the scale and severity of a cyberattack and the cost of data recovery, settlements or judgments could easily top six figures. Evaluate your business risk to determine how much cyber liability insurance you need.
Data breaches that expose sensitive digital assets can cause expensive lawsuits. Learn the difference between first-party and third-party cyber liability insurance and how these policies can help your business handle cybercrime.
IT businesses accused of making professional mistakes or failing to complete work can be sued in an errors and omissions lawsuit. Disclaimers and insurance coverage can help reduce your risks.
Commercial insurance protects businesses, freelancers, and independent contractors against liability lawsuits, property damage, cyberattacks, and other risks that could devastate your company.
Third-party cyber liability insurance provides liability coverage for businesses, including tech companies, that handle other people's sensitive data.
First-party cyber liability insurance helps cover expenses resulting from a data breach or cyberattack on your business's own network.
Data breach insurance can refer to several policies that protect a company from financial losses as a result of a data breach. These policies include cyber liability insurance and technology errors and omissions insurance (tech E&O).
The average premium for cyber liability insurance is about $145 per month. Your exact cost will depend on several factors, including the type of data you handle and your policy limits.
After a data breach or cyberattack, cyber liability insurance compensates your small business for any costs related to the incident, including lawsuits filed by your clients. Find answers to common questions about this policy.
Online businesses face numerous risks that could lead to severe financial losses. These three online business liability insurance policies can help protect your company.
Every liability insurance policy is different. Who is covered by your liability insurance depends on a few factors, including the type of insurance and any modifications made to the policy.
Cyber threats like denial-of-service attacks and phishing can hurt your reputation and your bottom line. Follow these steps to protect your business and your clients against cyber crime.