With rapid digital development, companies have switched to paperless systems to stay relevant and ensure accessibility for their customers. Almost every business of today operates online in some manner.
The same technology that makes your business management and workflow efficient and convenient is also vulnerable to cyber-attacks and security breaches. To protect your business against those risks, you should consider securing cyber liability insurance.
As an independent insurance agency in La Canada Flintridge, CA, we provide cyber liability insurance to help your business respond to and recover quickly from a data breach.
Do You Need Cyber Liability Insurance?
You need cyber liability insurance if your company relies on electronic data or stores sensitive information such as personally identifiable information (PII) and personal health information (PHI) on computers or cloud-based storage. If data related to your business or customer is lost, damaged, or stolen, it can be costly to replace or restore. It is also possible that affected customers could sue you for inadequately securing their data.
Without cyber liability insurance, you will need to cover all legal fees and expenses resulting from a data breach, including repairing damaged computer systems, recovering and restoring compromised data, and notifying customers about a data breach. Besides being liable for these expenses, you could lose your customers’ trust and business, which be the end of your business. If your network or computer systems are hacked into or corrupted by a virus, for example, cyber liability insurance can be essential to getting your business back up and running.
What Does Cyber Liability Insurance Cover?
We know that no two businesses are alike, which is why we tailor coverage to suit your individual needs. Our cyber liability insurance offers a list of coverage options:
- Costs of notifying employees and the public
- Repairing any damaged software or hardware
- Protecting the company’s reputation with a marketing and public relations response
- Business interruption costs and lost income while business operations are suspended
- Extortion money (used to pay a hacker who threatens your data or systems)
- Other ancillary costs, such as paying for credit monitoring for customers
- Privacy lawsuits claiming that you breached the privacy of customers or employees
- Fines from regulatory bodies
- Media liability claims
- Breach of contract or negligence claims
Why Choose Us?
With almost 100 years of experience, Knight Insurance Services guarantees high-quality business insurance policies. We create a customized policy for every business to meet their unique coverage needs.
We help you make an informed decision by explaining all the possible policy options and coverages. Our standard of excellence, commitment, and expertise help us provide the policy that gives you peace of mind in the event of a data breach, cyber-attack, and other unexpected digital incidents.
If you are looking for comprehensive cyber liability insurance near you, contact the experts at Knight Insurance Services. We will help you choose the right cyber insurance for your business.