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Cyber Liability Insurance

Cyber liability insurance protects your business from financial losses that may occur due to cyber security breaches. Businesses keep track of personally identifiable information (PII) such as address or credit card number of employees or clients. <br><br>Clink on the given link to learn more: https://quotezebra.com/cyber-liability-insurance/

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Cyber Liability Insurance

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  1. Cyber Liability Insurance

  2. Introduction • Cyber Liability insurance is designed to protect businesses from risks arising from the use of information technology. • Breach of cybersecurity will add not only a financial cost but also damage business reputation. • Cyber security insurance can help you to pay legal defense expenses. The policy also includes first-party coverage and third-party coverage to safeguard your business from financial loss.    

  3. Does your business need cyber security insurance?    • Retailers    • Restaurants    • Marketing agencies    • Contractors    • Consultants    • Financial firms    • Real-estate agents    • Hospitals     • Pet business   

  4. What are some endorsements for cybersecurity insurance? • First-party coverage • Third-party coverage • Social engineering • Bricking     • Reputational harm   

  5. Coverages that cyber liability insurance offers for your business • Investigation • Notification costs • Business interruption • Cyber extortion • Damage to electronic data • Credit monitoring • Network security • Privacy liability • Electronic media liability • Regulatory proceedings

  6. Coverage that your policy excludes  • Loss of income    • Loss of intellectual property    • Reputation damage    • Property damage    • Risk mitigation costs 

  7. Factors that impact the cost of cyber risk insurance       • Data access • Security system • Industry • Coverage limits and deductibles • Revenue • Claim history

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