Cyber liability insurance

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.

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.

Data breaches and cyberattacks are on the rise, hitting large and small businesses alike. Hackers can steal client data, pilfer your bank accounts, or shut down your computers and demand a ransom. There are a few tips, however, that you can follow to reduce the risk of a data breach at your company.

Detecting a data breach is key to mitigating damage and preventing future breaches and cyberattacks.

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.

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.

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.