The Importance of Cyber Liability Insurance

In today’s world where everyone and everything is online, there are an increasing number of things that can go wrong. That is why many companies, both large and small, are opting to purchase cyber liability insurance in Connecticut. This type of insurance can cover many important things that can occur in a cyber-environment.

Data Destruction

With viruses and cyber-attacks, data can be very easily destroyed. This information can include financial data, customer contacts, emails, or other important details that you need to run your business. Getting that information back can be a lengthy and costly enterprise. You could also be liable if that data is stolen and used for identity theft or fraud. Cyber insurance can help to assuage those costs.

Network Security Attacks

In order for a hacker to get to your personal and corporate information, they have to first bring down your network security and firewall. These can be costly and difficult to fix. Having an expert build you a new firewall to provide more protection for your information is more expensive than you may think. Cyber insurance is designed to help off-set these costs so that you can keep your business afloat even in difficult times.

Cyber liability insurance covers much more than this, as well. Things like lost income and extortion are also covered under most cyber insurance in Connecticut. Whether you run a giant corporation or a locally-owned family business, if you have anything digital, you may need cyber insurance.