Cyber liability insurance
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.
Online businesses face numerous risks that could lead to severe financial losses. These three online business liability insurance policies can help protect your company.
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.
Learn how to protect your consulting business by understanding the liability risks and taking steps to safeguard your assets.
In lost revenue and data, the cost of a DDoS attack on your tech business or your client’s business can escalate quickly. In fact, the average small to medium-sized business spends $120,000 per attack.
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.
Business data stored in a digital format online or on a hard drive are considered digital assets.
Cyber extortion is an online crime in which hackers hold your business data hostage or disable your websites or computer systems until you pay a ransom.
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 $129 per month. Your exact cost will depend on several factors, including the type of data you handle and your policy limits.
Depending on the scale and severity of a cyberattack and the cost of breach response and data recovery efforts, settlements or judgments could easily top six figures. Evaluate your business risk to determine how much cyber liability insurance you need.
Companies are required to notify affected customers after a data breach. Here are a few tips for complying with state laws and avoiding potentially bankrupting expenses.
