Flood Insurance, Get It NowApril 2, 2019
Innovative Denver Insurance SolutionsApril 18, 2019
Liability Loss Recovery Issues
Cyber Insurance Can
Benefit Your Business
Cyber liability is the risk that every business faces today.
You do not have to be a technology company to have a cyber liability risk. According to the latest studies by insurance
experts, firms with 50 or fewer employees are the most at risk of having a
loss, due to lack of controls and security. In fact, your business has a
greater chance of having a cyber loss than it does of having a fire.
Cyber Liability Risk Management
We recommend that every business consider cyber liability
insurance. As businesses consider protecting themselves against cyber-attacks,
it is important to understand what actions should be taken once a cyber breach
your cyber liability policy, so you understand the coverage. It is important
you understand the cyber risk coverage and how it works before the loss occurs.
an independent agent like our agency, to help you design a product that fits
your needs, including deductibles levels.
a cyber breach policy to help manage a data breach. Once a breach occurs, there
should be a clear procedure for employees to follow. This would include
notifying clients and vendors.
the claim as soon as possible to your cyber liability insurer. It might also be
a good idea to submit a claim to your other commercial liability insurers as
client’s information should be your first priory. Make sure you have the right
coverage for notification and any legal fees as part of your cyber liability
cyber insurance should also cover breaches arising from mobile devices.
for coverage that does not have contractual liability exclusions.
Thanks to Anderson
Kill for providing some of this information.