Many businesses today use digital technology to complete daily tasks. While convenient, this leaves your enterprise open to a myriad of risks, including liability issues. In this case, implementing cyber liability insurance is a must to protect both your business as well as your customers.

What Does Cyber Liability Insurance Cover?

A data breach involving your customers’ information is a very serious matter. Not only will it tarnish your business’s reputation, it will also cost you financially. In many cases, you’ll be responsible not only for informing those involved, but also paying for subsequent credit monitoring to protect consumers. These costs can usually be covered by cyber liability insurance.

Cyber liability insurance also covers losses incurred by your business. If your network crashes, you’ll be out of commission until the problem is rectified. Cyber liability can provide funds for business interruption, as well as helping you recover data that was lost. These policies can also pay for an investigation into breaches, lawsuits you may face, and crisis management.

Who Needs This Type of Insurance?

If you conduct business online, have a website, or manage a social media account on behalf of your business, cyber liability is a sound investment. Owning a business involves a lot of risks, and you may be personally liable if a breach occurs. You also run the risk of losing customers when faced with lengthy downtime, so it’s important to be able to access the necessary resources to get your operation up and running again. This policy offers the protection you need, both for your business as well as for your peace of mind.

Dunlap Agency in Fairbanks, AK, understands that business owners have complex insurance needs, which is why they offer a wide range of coverage options, including policies designed to for issues related to computer technology. They also offer many other types of protections, including renters’ coverage. Call (907) 456-5202 to speak with an agent. You can also visit them online to request a quote.