Cyber liability insurance
Tech 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.
Liability insurance can protect you from risks and help your business meet contract requirements. Here’s how to decide which coverage limits you need for your liability policies.
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.
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.
Technology errors and omissions insurance (technology E&O) provides coverage when you’re accused of negligence, mistakes, or oversights. It also covers data breaches that affect your business or a client’s operations.
If you’re in charge of sensitive data and provide cybersecurity services to clients, you should look into cyber liability insurance. This policy costs small tech companies about $145 per month.
Cyber liability insurance covers the costs of a data breach or cyberattack, including legal representation and crisis management. It helps tech companies recover quickly and notify affected clients.
Data breach insurance can refer to several different policies that protect a company from financial losses as a result of a data breach. These policies include data breach insurance, cyber liability insurance, and technology errors and omissions insurance (tech E&O).