The Need for Cyber Liability Coverage
Bulletin – Tuesday, January 21, 2020

Cyber Liability is a coverage that nearly every business needs. This includes anyone who:  

  • Communicates with customers via email, text messages, or social media
  • Sends or receive documents electronically
  • Keeps information on file (customers, vendors and even employees' personal information)
  • Accepts credit cards 

Cyber Liability policies are designed to cover a variety of losses that may result in anything from selling goods on the internet to collecting customer information. Something as simple as storing a customer's name and contact info is all that’s needed to have an exposure. 

Small businesses are especially vulnerable to privacy breaches. They can happen from loss, theft, improper disposal of or misplacement of any of the following: 

  • Laptop/notebook computers
  • Paper files
  • Customer lists
  • Human resource records
  • Cell/smartphones
  • iPhones, Ipads & flash drives

Cyber and privacy policies cover a business's liability for a data breach if collected personal information is lost, stolen, or compromised. Coverage includes a variety of expenses associated with data breaches, including notification costs, credit monitoring, costs to defend claims by state regulators, fines and penalties, and loss resulting from identity theft.

Cyber Liability is a great add-on coverage for nearly any of your business customers. Contact one of our Professional underwriters today to get your clients properly covered.