Cyber liability insurance is an innovative kind of insurance uniquely suited to address the digital era we live in and the increasing risks and exposures confronted daily by businesses which operate online. It is also suited for businesses which maintain sensitive client and customer data on their computer operating systems.

Whether you own and operate a large or small business, cyber liability insurance policies can be tailored to meet your specific business needs and can include one or more of these coverages:

  • Security and privacy liability
  • Privacy breach response costs, customer notification and support and credit monitoring expense
  • Privacy regulatory defense and penalties
  • Regulatory claim and audit expenses
  • Cyber terrorism and cyber extortion
  • Multimedia liability
  • Network asset protection

Most general liability policies do not provide coverage for these exposures. While some business policies include limited cyber liability coverage, it is usually insufficient to provide adequate/comprehensive protection.

You may need cyber liability insurance if you operate a website, conduct transactions online, or store personally identifiable information on your customers, clients and employees, including Social Security numbers, birth dates, credit card numbers and bank account information.

Your business would be held liable if there were a security breach of your network. You have a legal obligation to protect the confidential and personal information of your customers, clients and employees, which is stored in your network. Even if you hire a third party to provide protection and security, you are still liable.

Narver Insurance can help you maximize security for your business to ensure that your cyber security is maximized while your cyber risk minimized.