CYBER LIABILITY
INSURANCE

Cyber Liability Insurance is a specialized insurance policy designed to protect businesses from financial losses and legal liabilities arising from cyber-attacks, data breaches, and other cyber-related incidents.

Any business that handles sensitive data, including personal information, financial details, or health records, should consider Cyber Liability Insurance. This coverage is essential for companies of all sizes and industries to safeguard against the growing risk of cyber threats.

Cyber Liability Insurance typically covers expenses related to data breaches, including legal fees, notification costs, credit monitoring for affected individuals, and costs associated with restoring and securing compromised data.

Cyber Liability Insurance provides financial support for managing the aftermath of a data breach, including legal defense, regulatory fines, and costs associated with notifying and assisting affected individuals.

The key benefits of Cyber Liability Insurance include protection against financial losses from cyber incidents, coverage for legal and regulatory costs, and support for incident response and data recovery.

The cost of Cyber Liability Insurance varies based on factors such as the size of your business, the industry you operate in, and your company’s cyber risk profile. Premiums are typically influenced by the level of coverage and the measures you have in place to protect against cyber threats.

Cyber Liability Insurance typically does not cover losses from physical property damage, loss of income due to system downtime, or the costs of improving your cybersecurity infrastructure. These exclusions may require separate coverage or risk management strategies.

Businesses can potentially lower their Cyber Liability Insurance premiums by implementing strong cybersecurity measures, maintaining up-to-date software, conducting regular security audits, and having a comprehensive incident response plan.

To file a claim with Cyber Liability Insurance, promptly notify your insurer of the cyber incident, provide detailed information about the breach, and work with the insurer to manage the response and recovery process.

Kaplan Insurance offers tailored Cyber Liability Insurance solutions designed to protect New York State businesses from evolving cyber risks. Our expert team will help you assess your coverage needs and provide comprehensive support to safeguard your digital assets.