Cyber Liability Insurance: Protect Your Business from Financial Loss

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The biggest threat to your business could come from online.

Cyber-attacks can be devastating to a business—even your business. In fact, it is estimated that 60% of small businesses can’t survive the financial impact of a cyber-attack.

Let us help protect your company from the potential financial ruin of a cyber-attack.

Types of Cyber Liability Insurance for Business

  • Data breach coverage from exposure of Personal Identity Information (PII), Payment Card Industry (PCI) or Protected Health Information (PHI)
  • Technology errors and omissions (E&O) coverage
  • Media liability insurance for digital or printed published content
  • Virtual workforce/home office coverage

To determine your exposure as the result of a data breach, simply complete the form to access a free Data Breach Calculator.

As independent insurance advisors our team at Community Insurance Advisors serve as your local, one-stop insurance consultant. We work for you, not a large insurance company.

Questions? Simply want to talk through a situation? Give agent John Allen and our team of independent insurance advisors a call:

Myth

There is no such thing as cyber liability insurance.

Fact

While relatively new, cyber liability insurance is real— and probably less expensive than you think. Like all insurance, there are different coverages available and policies should be customized to fit your needs.

Cyber Liability Insurance for Business

Data Breach

So commonplace that they are no longer shocking, big company data breaches are a regular story on the nightly news. Whether it be personal data from a  healthcare provider, or credit card data from a big box store, the threat is real. Hackers are now setting their sights on smaller companies, even those in the B2B space.
 
No matter the size, if your business collects any sort of Personal Identity Information (PII), Payment Card Industry (PCI) or Protected Health Information (PHI), your company could be exposed. The consequences of a breach can be dramatic—financial, reputation damage, operational downtime, legal exposure, personal data, trade secrets. We can help develop a coverage to protect your company from the financial challenges brought on from a data breach.

Media Liability

Did someone take exception to something you or one of your employees said online? If your company creates or publishes content, digitally or printed, media liability insurance can help protect you.

Technology E&O

Like many professionals, people in the technology business are often paid for their advice. When bad things happen as a result of that advice, you may be on the hook for the consequences. Technology Errors and Omissions (E&O) coverage can help protect you. Ask us how.

Virtual Workforce/Home Office

More people are working from home than ever before. If your team is part of the new virtual workforce then your exposure points have been multiplied exponentially. Because any connected smart device (wireless printer, a smart TV, tablet, etc.) can be a portal for a hacker into a home network, an assessment of your employee’s home network and related firewall is a must.

The same applies to entrepreneurs working from home. If you collect any type of data on your clients and prospects, you need to protect your network. While personal insurance generally covers “identity theft”—that type of coverage has its limits. Make sure you have a secure network and understand how your access to the internet is protected.

Need to protect your business with cyber liability insurance?

There is real value of working with an independent, trusted, experienced insurance advisor.

Tips for minimizing the impact of a cyber attack

  • Do an assessment. Are there holes in your network? Outdated hardware or software?
  • Make sure you have robust security protocols in place. Is someone monitoring your network and able to detect attacks real-time?
  • Before you experience a breach, make sure you prepare an incident response plan—who you will call when you have a breach?
  • Insurance can cover many potential scenarios. Talk with a professional to understand when and how insurance can help protect your business. 

As a wise man once said, there are two types of companies—those that have experienced a cyber-attack, and those that will. Protect your data as you would your home (build a fence, lock your doors) and the hackers just might move on to an easier target.

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