Cyber Liability
What is it?
Cyber liability insurance protects your business against cyber security risks. It can help restore employee and customer identities, recover compromised data and repair damaged computers and networks, whether your business is the victim of a data breach, social engineering, ransomware or phishing attack.
Why is it important?
Any business that stores data on a network is exposed to cyber security risks. Data privacy attacks now occur every minute in the U.S. Without cyber liability insurance, your business could be held liable for state and federal fines and penalties, the expenses of a forensic investigation, breach notification costs, and even potential future class-action or third-party lawsuits
What does it cover?
Data Breach Expenses
Covers costs related to notifying affected parties, credit monitoring services, legal consultations, and public relations efforts after a data breach.
Cyber Extortion Coverage
Provides coverage for expenses incurred during a cyber extortion incident, such as ransomware attacks and demands for payment.
Business Interruption Losses
Covers income losses and additional expenses resulting from disruptions caused by cyber incidents affecting your business operations.
Third-Party Liabilities
Protects against legal liabilities arising from data breaches, privacy violations, and other cyber-related claims from third parties.
Forensic Investigation Costs
Covers expenses associated with conducting investigations to determine the cause and extent of a cyber incident.
Why FRG Specialty?
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Common Questions
While it can't prevent cyberattacks, Cyber liability Insurance helps mitigate the financial impact and aids in recovery after an incident.
Yes, Cyber Crime Insurance typically covers legal expenses associated with defending against cyber-related claims.
No, Cyber Crime Insurance is relevant for businesses of all sizes and industries that handle sensitive data and operate online.