Cyber Liability Coverage
Today, businesses in every sector rely on digital information, the internet and computers and devices to market, share information and to keep the company running. When you suffer a data breach, the consequences can be devastating. You can lose vital data and require expensive repairs and security upgrades. Your business may face a dampened reputation and even lawsuits from upset clients and customers.
What Is Cyber Liability Coverage?
Cyber liability coverage is a type of insurance that falls under the aegis of general liability insurance. However, even if you have general liability coverage, you likely need cyber liability insurance for your New York business, since general liability policies will not cover the high costs of a data breach and other cybersecurity concerns.
Data breach insurance in New York protects your business by compensating you for covered losses your business faces. For example, if hackers wipe your files and you need to pay for IT professionals to recover your data, you may be compensated for this if the coverage is part of your policy.
Crucially, cyber and privacy insurance in New York also protects you if third parties suffer losses as a result of the data breach. If a data breach means client data is stolen, and some of those clients suffer stolen identities as a result, cyber liability insurance coverage can help you pay for defense costs, settlements and judgments in any resulting legal claims.
What Are the Benefits for Me?
Having your company targeted by hackers and cybercriminals is daunting. Insurance can compensate you for:
- Public relations costs if your reputation is damaged
- Business interruption and loss of revenue as you recover from the attack
- IT and other expenses related to getting your system up and secure again
- Data replacement and data loss
- Financial losses caused by online or digital extortion
If someone else suffers because your business is targeted, your insurance can protect you if your website passes on viruses or malware. It can also protect you in case someone’s information is misused as a result of an attack on your servers, website or computer system.
Where Can I Get a Cyber Insurance Quote in New York?
If you have any files in the cloud or use a website or computers for any part of your business, contact Kokkoris Insurance Services for a free quote and consultation. We can review your current liability policy to determine what types of cyber liability coverage you may need. Our team can answer your questions and learn more about your company, so we can offer robust protection to your business. Our goal is always to find the best fit at the right price point, so you end up with insurance which brings you peace of mind.
You may already be using encryption, strong passwords and anti-malware software, as well as other measures to keep your online environment safe. With the online landscape changing often and with cybercriminals becoming bolder and more aggressive, you will want to contact Kokkoris Insurance Services for a free quote and consultation to find out how affordable quality cyber insurance can be.
We Want to Work With You
Get in touch with our team right away by phone or email so that we can start on finding you the right insurance solutions!