Business Coverage
Cyber Breach insurance, also known as Cyber Liability insurance, is designed to protect businesses from financial losses related to cyberattacks and data breaches. This type
of insurance typically covers costs associated with:
- Data Breach Response: Expenses for notifying affected customers, offering credit monitoring services, and managing public relations to mitigate reputational damage.
- Legal Fees: Costs of legal defense and settlements or fines related to regulatory investigations or lawsuits resulting from the breach.
- Business Interruption: Losses incurred due to downtime or operational disruptions caused by the cyber event.
- Data Recovery: Expenses for restoring or replacing compromised data and systems.
- Extortion: Coverage for ransom payments in cases of ransomware attacks.
Overall, Cyber Breach insurance helps businesses manage the financial impact of cyber incidents, ensuring they can recover more quickly and minimize long-term damage.