Cyber Liability provides defense and indemnification for losses caused by a data breach.
- Online access to business banking accounts can create a cyber-breach incident where theft of funds can occur
- Stored private data can also be exposed to a data breach that would cause a third party damages
- If an employee unknowingly clicks on a phishing e-mail or misplaces their data save stick or laptop: they have potentially opened up their organizations to a breach
- Do you have vendors providing services that could potentially create a cyber-breach liability exposure for your organization?
What types of damages could you be responsible for?
- Third-party damages
- Client notification expense
- Credit Monitoring
- Data recovery
- Forensic investigating costs
- Lawsuits arising from the breach
- Reputation damage control