For years, security professionals have been saying “either you have been data breached or you just do not know that you have been data breached.”
Data breaches are now a fact of life together with taxes and death, but how can businesses better manage the risks related to a data breach and reduce the significant cost that can result from them?
One of the options is to buy an insurance.
What is cyber liability insurance cover?
The term “cyber liability insurance cover” is often used to describe a range of covers – in very much the same way that the word cyber is used to describe a broad range of information security related tools, processes and services.
At the moment, cyber liability insurance cover can include;
Data breach/privacy crisis management cover.
For example, expenses related to the management of an incident, the investigation, the remediation, data subject notification, call management, credit checking for data subjects, legal costs, court attendance and
Multimedia/Media liability cover. Third-party damages covered can include specific defacement of website and intellectual property rights infringement.
Extortion liability cover. Typically, losses due to a threat of extortion, professional fees related to dealing with the extortion.
Network security liability. Third-party damages as a result of denial of access, costs related to data on third-party suppliers and costs related to the theft of data on third-party systems.
Ensure your business is protected by arranging a cyber liability policy with Elliott Westland today. We can either add it to your existing business policy or arrange a standalone policy to meet your needs.
Phone: 0191 510 3354
Address: Unit 1 Lambton House, Newbottle Street, Houghton-le-Spring, DH4 4AR