In today’s world, every business is at risk for cybercrime. Cyber liability insurance safeguards against this threat.
Understanding Cyber Liability Insurance
Just like any other kind of insurance, cyber liability protects you against a specific range of threats and potentially crippling damages or effects.
Some of the most common protections in a cyber liability policy provide coverage for:
Drawbacks of Cyber Liability Insurance
Of course, there are some drawbacks to consider when purchasing cyber liability insurance. Some providers may include “breach forgiveness” clauses that prevent policyholders from filing claims if they’ve ignored previous warnings about their security.
In addition, some carriers will require your business to initiate specific security measures as a condition of coverage (such as restricting access via VPN for employees who work remotely). This can be difficult if you’re not already practicing sound cyber hygiene.
It’s also important to remember that cyber liability insurance is designed to safeguard against certain types of losses and damages following a breach, but it won’t make the problem go away entirely. To learn more about how to implement cyber liability insurance in your enterprise, click the button below and set up a free consultation with our team.
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