Cyber Liability Insurance in Littleton, NH
Cyber risks and exposures are among the most relevant threats to modern workplaces. To account for these concerns, your organization must reassess its risk management and loss control measures. This is where cyber liability insurance emerges as an advisable investment.
What Is Cyber Liability Insurance?
Also known as cybersecurity insurance or cyber protection insurance, this type of policy can offer crucial financial aid and peace of mind in the wake of data breaches or other cyber incidents. Policies can vary in their exact details, but when working with a qualified insurance professional, your business can tailor coverage to its unique needs and circumstances.
What Does Cyber Liability Insurance Cover?
Cyber incidents may come in many forms, including data breaches, phishing schemes, social engineering and malware infections. Even a single instance of any of these incidents could have devastating ramifications for your business’s continuity, finances and reputation. Fortunately, cyber liability insurance can provide essential aid, as payouts may assist with the following expenses and losses:
- Notifying affected parties, such as clients whose data may have been compromised
- Identifying the cause of the incident, such as by hiring digital forensics investigators
- Hiring additional help, including IT contractors and public relations firms
- Paying noncompliance fines, such as those issued by regulatory bodies
- Recouping business interruption losses, such as lost revenue due to delays
- Responding to lawsuits, such as by hiring attorneys or paying settlements and judgements
- Satisfying the demands of a cyberextortion perpetrator, such as if your data is held hostage by a ransomware attack
Why Do Businesses Need Cyber Liability Insurance?
In an increasingly digital world, all companies must be mindful of their cyber liability insurance needs. Cybercriminals have evolved their attack methods and diversified their target selection in recent years. Even small- and medium-sized companies that may have previously flown under the radar of hackers must now be vigilant in implementing and maintaining defenses.
We’re Here to Help
At Hunkins & Eaton Insurance Agency, we work with a network of highly rated cyber insurance providers and will work with you to find ideal coverage. Contact us today to get started.