Cyber Liability Insurance
Technology drives most of our businesses. It plays a vital role in determining how an organization is going to conduct its business and also directs the way to reach prospective customers. With these data-enabled businesses, data is the lifeline.
In the recent past, almost every firm has shifted its approach of using the traditional file keeping methods and everything is on the computers now. This electronic data includes everything- Tax records, projections, information about clients, and customer. If any unfortunate incident occurs, this data is destroyed or stolen, the recovery of it often incurs a huge expense.
In many cases, the sensitive data can belong to an employee or customer and they might sue you for the breach. This means substantial expense on your part. All of these loses can be covered with a cyber liability cover.
Why Cyber Liability Cover?
This policy covers the expenses or financial losses that might incur due to a data breach or loss. These policies are specifically crafted to make sure that the firm is covered in these events. Many policies are a combination of first-party coverage as well as third-party coverage. The first party coverage includes expenses that are incurred directly by the firm where the breach occurs. Third-party coverages include claims from other people who might be injured due to the breach. Her is what such a policy covers:
- Loss or damage of data
- Loss of income and expenses
- Cyber extortion
- Notification costs
- Damage to reputation
- Privacy liabilities
- Electronic media liability
- Regulatory proceedings
Why RH Insurance?
Cyber liability cover is a must in times like these where everything is dependent on the internet and technology. We can help you with a policy that suits your requirements. The policy can be customized by adding other liability covers that are available ‘a la carte’. Our policies can help you recover the cost involved in restoring and recreating data, Restoring the systems, related expenses, and costs incurred in communications by the public relations team on your end.
Our policies can cater to any business- big, small, retailers, nonprofit organizations. You can save better with us as we can offer a better comprehensive suite to cover most of the business liabilities.
We can help safeguard your business practices by assessing the total risk and thereby providing the protection you require in a data reliant world of ours. Call us now for more assistance.