We get this question asked all the time. What is Cyber Liability and how could my business be at risk? The simple answer is that any company, big or small, that conducts business electronically is at risk. Whether you accept credit cards as form of payment, collect personal data on your customers (birthdates, social security numbers), use email for communication or maintain health/tax records you could be held responsible for any breach of this confidential information.
Cyber Liability Coverage serves as protection to you and your company. It helps protect against losses associated with:
- Transmittal of a computer virus
- Defamation against a person or an organization
- Copyright or trademark infringement
- Violating the right to privacy of personal information
- Statements made in emails or electronic communications that are erroneous, misstatements or misleading.
This coverage will take care of the costs associated with crisis communication, credit monitoring, ID theft services and notification to those clients or employees whose personal information may have been compromised.
Remember, it can happen to any size business and it is very difficult to protect it from happening to you. Let your insurance handle the mess it has caused so you can concentrate on running your business. To discuss Cyber Liability and what it can do for your business please contact Frank Schiliro at 800.290.8120 x102.