Cyber Liability Insurance in Fort Worth, Texas
Maintaining security of your electronic systems and the private information it contains is a huge concern these days for everyone. A breach of your systems and loss data is one of the many threats your business faces. Thankfully, we can help alleviate some of that worry and allow you to focus on other aspects of your business by setting you up with a Cyber Liability Policy.
If you’re thinking about purchasing cyber liability insurance for your business, you should consider the costs of a cybersecurity expert’s services. While this will not reduce the cost of cyber coverage, hiring someone to manage the cybersecurity risk on your behalf may significantly lower your premiums. Businesses with high-risk activities will need to purchase higher coverage limits. Other risks to consider include having multiple servers or a large number of customer records. If you’re not sure if you need to get cyber liability insurance, comparing quotes can help you make the decision.
What is included in Cyber Liability Insurance?
Cyber insurance policies may also extend to shared computer systems. These are systems that are not owned and operated by the insured company, but by a third party under contract with the insured. They may include data hosting, cloud services, co-location, platforms and software, and infrastructure-as-a-service. Considering these factors, you may want to consider purchasing cyber liability insurance for your business. There are many advantages to purchasing cyber liability insurance.
The most common cyber liability insurance claim is for a data breach. In many cases, this type of claim involves a security breach. The insurer will pay for any losses that result. The policy will usually reimburse you for the costs of rebuilding damaged or destroyed data. It is important to note that cyber insurance does not pay for any damages that may occur outside of the policy period. It is essential to understand the policy details. You can find more information on cyber liability insurance by visiting our website.
Do I need Cyber Liability Insurance?
Here are some examples of incidents:
- A hacker acquires customer information stored on your server, including credit card numbers. You are required by law to notify customers affected by the breach, provide credit-monitoring services, pay expenses and losses incurred by customers, respond to media inquiries about the breach, determine what led to the breach and patch the breach..
- You or an employee sends a customer an e-mail attachment containing a virus that destroys the customer’s computer system. The customer sues you for damages caused by the virus transmission.
- Your competitor sues you for alleged financial harm as a result of material displayed on your website, including defamation, disparagement, and infringement of trade dress.
- You or an employee opens an e-mail attachment that contains a virus causes a total shut-down of your e-commerce activities for a number of days.
You can purchase insurance – called Cyber-Liability and Information Security coverage – to protect your business against these and other cyber-related incidents. These insurance policies are affordable for most businesses, especially when you consider the important benefits they provide.
Give us a call to get a quote today! (817) 924-0404