Cyber liability
Coverage for data breaches, ransomware, cyber extortion and the cost of getting back to business. Any company that stores customer information, takes payments or relies on email has some cyber exposure.
What it generally covers
- Breach response: forensics, notification and credit monitoring
- Ransomware and cyber extortion
- Business interruption from a cyber event
- Data restoration
- Liability if customer or employee data is exposed
- Funds transfer fraud and social engineering options
Who usually asks about it
- Businesses that store customer or employee information
- Anyone taking card payments or handling bank details
- Companies that depend on email, cloud software or online ordering
- Businesses whose clients or contracts require cyber coverage
Common questions
We're a small business. Are we really a target?
Small businesses are often targeted because they have fewer protections in place. Exposure depends on the data you hold and the systems you rely on.
Doesn't my general liability cover this?
Generally not. Most general liability and property policies exclude or limit cyber losses, which is why stand-alone cyber coverage exists.
What will the application ask?
Usually questions about multi-factor authentication, backups, employee training and how you handle payments. Having those in place can also open up more options.
General information only. Coverage depends on the policy's terms, conditions and underwriting. A licensed agent can review what fits your situation.