Everything You Need To Know About Cyber Insurance

​Businesses of all sizes are increasingly vulnerable to cyber-attacks and data violations. Cyber insurance is a form of coverage that can help organizations protect their information and assets in a cyber-related incident. Cyber insurance can cover various costs that your business may encounter later.

In this article, you will learn everything you need to know about cyber insurance for businesses, including what it covers, how it can help protect an organization and the different types of policies available.

Cyber Insurance Coverage
Cyber insurance is a type of coverage that helps organizations cover the costs of responding to a data breach or cyber attack. It typically includes:

1. Liability coverage
   Cyber insurance covers the costs of defending or settling a claim against your business related to a data breach or cyber attack.
   
   
2. Property damage and theft coverage
   Cyber insurance protects any physical property compromised or damaged due to an incident relating to cyber-attacks, information theft, and more.
   
   
3. Business interruption costs
   Cyber insurance safeguards your business from financial losses resulting from an interruption in operations triggered by cyber-attacks. It covers the costs associated with lost revenue and other necessary expenses.
   
   
4. Cyber extortion coverage
   With various businesses leveraging social media and other platforms to boost their online presence, cyber extortion of personal data is inevitable. Cyber insurance helps to alleviate the financial burden of data loss or theft due to ransomware attacks and other malicious software.
   
   
5. Data breach response services
   Today’s consumers are quite sensitive when talking about their data and entrusting it to business enterprises. That is why credibility and trust in the brand are compromised when a business fails to protect its customer’s data. Cyber insurance policies usually include access to a team of experts who can help you respond quickly and effectively to a data breach or cyber attack.

Cyber Insurance for Your Business' Future
Cyber insurance constantly changes, so you may encounter different coverage and premiums when renewing your policy. 

At CSIS Insurance Services, Inc., we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We will go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (888) 501-2747, or CLICK HERE to request a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!