Cyber Liability Insurance
Cyber Liability Insurance Information
Cyber Liability Insurance
Many companies choose to add cyber insurance to their business insurance policies to protect them from the financial repercussions of a cyber attack or data breach.
If you have questions about how to protect yourself from a cyber attack, you can trust the cyber liability experts at Insurance & Financial Services At Champions in Spring, Texas. Contact us today to learn more about how cyber insurance can help protect your company.
What Is Cyber Insurance?
Insurance professionals often recommend this coverage for large businesses, and smaller companies may find cyber insurance necessary as they lean on technology to facilitate more of their day-to-day operations.
Cyber liability coverage may help your business with the following expenses:
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Lost income due to a network outage
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Regulatory fines from governing agencies
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Customer or employee privacy lawsuits
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Payments to recover files in a ransomware attack
Your agent may also recommend the following additional coverages, depending on your needs:
Why Do Businesses Need Cyber Insurance?
Hackers may target the personal information stored in your company’s computers, potentially exposing important information about your customers, including their home addresses, credit card details and other private information. If a hacker accesses your company’s database, they may also be able to lock your employees out of their computers and demand a ransom.
A cyberattack could be especially damaging if you work in an industry that has rules protecting customers’ right to privacy, such as education, health care or finance.
How Much Does Cyber Liability Insurance Cost?
Cyber liability coverage is typically affordable for small businesses, and your premium depends on several factors, including:
Get the Cyber Liability Coverage You Need
Cyber insurance is just one part of a comprehensive insurance plan. To learn more about how you can get this essential coverage and to get a quote, contact Insurance & Financial Services At Champions today.
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