Cyber Liability Insurance Coverage
All businesses from ‘mom-and-pop shops’ to large global brands use technology, and because they do they really should have Cyber Liability Insurance. With technology advancing every day there comes new emerging cyber risks. It’s not just the big fortune companies that will be targeted, it is every single business that will face this challenge.
Cyber Liability insurance provides businesses with a combination of coverage options to help protect the company from data breaches involving sensitive information. Those might include employee Social Security numbers, Credit Card Account numbers, Drivers License numbers, and, even personal Health Information.
The exposure can make your organization vulnerable to various legal costs. At Bogle Agency Insurance, based in Lyndhurst Bergen County NJ, we have been advising business owners for a long long time – we can certainly answer all your Cyber Liability questions and we have the right liability coverage, as well as, cost options for the business.
What Does Cyber Liability Insurance Cover?
Cyber Liability Insurance can cover:
1. Business Interruption Expenses
– If operations need to be stopped in order to handle or respond to a cyber incident, the insurance can help with all the business interruption expenses. Examples might include the cost of hiring more staff or the need to rent equipment. It might include the purchase of third party services, like hiring a public relations or a crisis management team.
2. Litigation Expenses
– If a client is sued for failing to prevent the data breach, the insurance can cover attorney’s fees and other legal costs of defense in court. It could include out-of-court settlements to satisfy any damages they experienced.
3. Cyber Extortion Expenses
– Say a hacker steals private information about the company or employees and then holds them for ransom, The insurance will help with negotiation and/or payments to meet these extortion demands.
And that’s not all, but this is not necessarily a ‘one fits all’ type of insurance coverage, Cyber Liability Insurance can be customized to a particular organization’s needs.
Why Bogle Insurance Agency Support Is Your Best Bet
When it comes to the tough decisions related to various business insurance coverages, including Cyber coverage you will want the most experienced professional agency. Bogle Agency Insurance, based in Lyndhurst Bergen County, NJ, not only offers you, your family, and/or your business commercial liability insurance options, but we can help you understand all the liability insurance variables. At Bogle Agency Insurance, we are your Bergen County, NJ, Business Insurance advocate … and we are not the insurance carrier. We are a family insurance practice, 4 generations and 100 years, dedicated to helping you make the best possible decision. Simply request a quote to get started today!