Cyber liability insurance can provide businesses with needed coverage for data breaches, data loss and cyberattacks. As operations modernize and information is increasingly processed and stored digitally, the chance of these events occurring rises.
Businesses of all sizes and industries face these exposures; the team at Marinette Insurance and Financial Services, LLC in Marinette, Wisconsin, can work with you to find the optimal cyber liability insurance policy to help mitigate these risks. Contact us today to get started.
What Is Cyber Liability Insurance?
Cyber liability insurance is also known as cyber security insurance or cyber insurance. It is a coverage that can provide financial aid if confidential or sensitive information is compromised or lost. These payments can help mitigate the impact on your businesses and clients, and they may supplement your other insurance policies that often do not cover these events.
How Does Cyber Liability Insurance Work?
Policies vary, but cyber liability insurance generally functions similarly to other insurance. In exchange for a premium, an insurer agrees to provide financial assistance if a covered cause of loss occurs. This coverage can help pay for damages and your business’s recovery costs after data loss or cyber security incidents such as: