IT World suggests that the average cost per lost or breached record is approximately $200. Multiply that by a moderate amount of records and factor in the potential cost of third-party litigation (by affected clients, employees or vendors) and you could be facing tens of thousands of dollars of out of pocket expenses.
Cyber Liability Insurance provides coverage
for costs your business incurs:
- To notify clients – as mandated by state laws – that their personal, non-public information has been exposed including the cost of offering up to one year of free credit monitoring for all affected individuals in most jurisdictions.
- To restore data.
- To pay for forensics, investigation and litigation costs following a breach event.
- To pay for infringements of copyrights, trademarks or the unauthorized use of images used in the course of your business operation including on social media.
To obtain a Quote Indication for Cyber Liability Insurance coverage specific to your business or to learn more about this offering, please call us directly at 888-985-0737.
*This is for illustrative purposes only. No extension of coverage applies. Please refer to Specimen Policy Form for actual coverage terms and conditions.
Complete a Cyber Liability Application:
Cyber Liability Insurance Application
Cyber Liability Insurance Program Documents:
Cyber Liability Insurance Program Highlights
Cyber Liability Insurance Links:
Reporting A Claim