Cyber Liability Insurance
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Several years ago, cyber attacks were few and far between, and most companies, unless they were large household names or data-rich corporations, didnāt see the need for insurance protection in the event of a security breach or other cyber risk. But the paradigm has changed, and today cyber liability insurance needs to be an integral component of oneās insurance program. Whether itās a giant retailer like Target, a local restaurant in Wayne, or a technology consultant in Plainsboro, large businesses as well as small and midsize companies across all industry sectors are targets of cyber crime and accidental incidents such as lost laptops and inadvertently transmitting viruses or malicious code.
Why You Need Coverage
At Martin Insurance Group, we can provide you with a cyber liability insurance policy, also known as privacy and network security insurance, to cover the expenses involved as a result of cyber incident. Covered costs can include notification of affected parties, credit monitoring for your customers, forensic investigations, legal defense and third-party claims, regulatory fines and penalties. In addition, a cyber policy can be enhanced to provide the costs to hire a PR firm to help stem the reputational damage that occurs after a breach.
Whatās more, some of our insurer partners have policies to respond to problems in the cloud. In addition, itās also possible to add business interruption and other losses you face from a cyber attack that are not covered by standard business property policies.
Itās important to note that a general liability policy excludes coverage for allegations of cyber-related intellectual property or libel, which is why itās also imperative that cyber insurance be added to a businessā risk management program.
Hi, Iām Martin. Weāre here for you.
Weāve been serving New Jersey, Pennsylvania, and Connecticut businesses for more than three decades, and can help protect your firm in the event of a cyber attack. When you come to Martin, youāre choosing a firm that puts you first. We look forward to hearing from you. Just give us a call at 1-800-353-5000.
https://www.immartin.com/management-liability/cyber-liability/
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