At one time, it was thought that large companies with large amounts of data were the only ones who needed Cyber Liability insurance, but in recent years many small business owners have realized how critical the Cyber Liability coverage is to their portfolio.
Cyber Liability insurance is designed to cover liability and property losses that may result from a business engaging in numerous electronic activities, such as e-commerce or data-collection within its internal electronic network. Cyber and Privacy policies cover a business' liability for a data breach in which a company's client base and their personal information, such as social security or credit card numbers, are exposed or stolen. Fulshear Insurance® represents many different carriers to ensure proper protection of your business with this valuable coverage. It is important to have data breach coverage in place if your business is victimized by a cyber-attack as quick action is critical to help restore the public's confidence.
To mitigate the risk of civil litigation and other penalties when a data loss or theft occurs, a cyber liability or data breach insurance policy can provide access to professional assistance to help businesses comply with applicable laws and regulations.
Businesses must respond swiftly to minimize the impact of a data security incident on their customers, employees and their business. Their reputation is at risk, and there are laws and regulatory requirements that must be addressed immediately, or companies that experience a breach could face steep penalties and even lawsuits.
Data breach insurance and cyber liability insurance help cover the costs of a data security breach such as identity protection solutions, public relations, legal fees, liability and more depending on the level of coverage you choose. Limits of cyber liability insurance policies are available up to $20M for select risks. Both First and Third Party coverages are available. Excess cyber liability may also be available for clients who require higher limits.
Employee Privacy Liability which is the legal liability for a security breach or privacy breach of employees' personally identifiable information (PII) or protected health information (PHI).
Electronic Media Liability for claims arising from the following on the insured's internet or intranet site:
Network Security is the legal liability for a security breach or privacy breach resulting from alleged violations of HIPAA and other privacy protection laws or regulations whether they are local, state, federal or foreign.
Call the trusted professionals at Fulshear Insurance® Group to schedule your consultation today. We are happy to provide for your review, free no-obligation quote for your business or commercial insurance. We offer Texas insurance policies for general liability, BOP - Business Owners Policy, commercial property, worker's compensation, commercial auto, cyber liability and all other types of business insurance policies. Fulshear Insurance® is the insurance agency you can trust for your Texas insurance policies. Don't delay... call us today 855.533.9067, or complete our online business application.