As technology becomes increasingly important for successful business operations, having an adequate cyber liability insurance policy is essential for the protection of you and your business. 

Keats Insurance Agencies is committed to providing your business with appropriate cyber liability insurance. With our countless years of experience and knowledge of the market, we will guide you in choosing the right policy for your business’s needs.

To get the coverage you need, call us at 800-871-1992 or request your quote online today.

What Is Cyber Liability Insurance?  

When you collect data and store it on a computer system, this data is susceptible to damage, destruction or theft. When such issues occur, they could cause personal and financial challenges for your business and other parties. Cyber liability insurance is designed to help your business respond to data losses in ways that will prevent challenges both for both the business and affected third parties. 

What Does Cyber Liability Insurance Cover?  

Cyber liability insurance helps the business compensate others if an internal data loss incident occurs and puts third-party personal security on the line. Whether this loss occurs due to a cyber attack or another form of data loss, cyber liability coverage may help pay for: 

• Stolen data retrieval and recovery 
• Reimbursement of fraudulent charges 
• Credit monitoring and identify theft protection for breached clients and customers
• Damage control for your business’ reputation 
• Legal fees associated with the attack 
• Regulatory notification fees 
• Ransomware

Every policy will vary in coverage details, so be sure to talk to an agent to learn what a policy for your business may cover. 

How Much Is Cyber Liability Insurance? 

Cyber liability insurance is specifically designed to address the dangers that come with using modern technology. Other types of business liability coverage will not cover these risks. The level of coverage your business needs is based on your unique operations, and the cost of a policy can vary depending on your level of exposure.

Going Beyond Cyber Liability Insurance

Having the right insurance in place is essential to protecting your business in the event of a ransomware attack or data breach, but there are also additional things you can do to ensure your cyber liability protection plan is robust. 

• Employee cyber security education—Your employees are the first line of defense against cyber attacks. Educating them on the various ways cyber criminals can gain access to valuable information, as well as simple things they can do to protect themselves and the company (e.g., creating a safe password), can go a long way. Be sure to train them on what data breaches are, ransomware attacks, phishing scams, and password security. 
• Testing employees—Regularly testing employees on various cyber security threats (e.g., phishing emails) can help you identify areas in which you may need additional training, as well as help employees learn what to look for in situations like phishing scams or emails. 

Contact Us Today

A traditional business liability policy is unlikely to protect against most cyber exposures. Proper cyber liability protection can help protect your business against cyber risks you may be facing. Call Keats Insurance Agencies at 800-871-1992 or request your quote online today to get started.