Protecting your business from digital threats
In today’s digital age, businesses face increasing risks from cyber attacks, data breaches, and online fraud. Cyber insurance is designed to help protect your company from the financial and reputational damage caused by these cyber threats.
What is Cyber Insurance?
Cyber insurance provides coverage for losses and liabilities related to cyber incidents. This includes expenses like data recovery, legal fees, notification costs, business interruption, and damages resulting from cyberattacks or breaches.
What does it cover?
- Data breaches and loss of sensitive information
- Cyber extortion and ransomware attacks
- Business interruption due to cyber incidents
- Costs of notifying affected customers and regulatory fines
- Legal defense and settlements from lawsuits related to cyber incidents
- Costs to recover or restore data and systems
Why is it important?
Cyber threats are becoming more sophisticated and frequent, affecting businesses of all sizes and industries. Without cyber insurance, a breach or attack can result in significant financial losses and damage to your company’s reputation.
Who needs Cyber Insurance?
Any business that collects, stores, or processes sensitive data—such as customer information, financial records, or intellectual property—should consider cyber insurance. This coverage is especially critical for businesses that operate online or rely heavily on digital systems.
How to choose the right coverage?
- Evaluate your company’s exposure to cyber risks
- Review the types of incidents covered and policy limits
- Consider coverage for first-party losses (your business) and third-party liabilities (customers or partners)
- Work with an insurance professional to tailor coverage to your business needs