We’re here to help identify and cover your business’ cyber security risks
Why You Need Cyber Liability Insurance
Today, we spend a significant portion of our days online — in fact, 95% of businesses rely on their computer systems operating properly to perform day-to-day business functions. Just one cyber attack can put you and your business at risk, possibly causing enough damage that you have to cease all operations. Here at Doherty Insurance, we know how hard you’ve worked to build your business, now let us help you protect it with a Cyber Liability Policy.
Cyber Liability Insurance Defined
In short, Cyber Liability Insurance protects you and your business in the event of a cyber attack or loss of data due to theft from your network, as well as any costs related to it. As technology continues to improve, this coverage continues to expand to help protect individuals from all the threats in the cyber world. At Doherty, we’re committed to identifying your risk and finding the proper coverage for your business, as well as offering resources you need to manage and minimize your cyber risk before and in the event of a breach.
Why Your Business Needs Cyber Liability Insurance
- A criminal cyber attack or human error resulting in data breach isn’t a matter of if, but when.
- If you have electronic records for employees, customers, or clients, you’re at risk for a lawsuit if their information is leaked.If your system is down due to a glitch, human error, or an attack, your business is at risk for loss of income and customers.
- New viruses are being developed and have gone up 40% in the past year, ultimately increasing the risk for everyone online.
- Extortion can happen and businesses may need to cease operations or pay a ransom in order to regain access to their computer systems.
- Of organizations who have experienced a cyber attack, 49% will experience a second one within a year.
What is Covered Under A Cyber Liability Policy?
- Claims resulting from unauthorized data access in which confidential information is lost.
- Claims resulting from copyright infringement, defamation, libel, slander, and violation of an individual’s rights in electronic content.
- Claims resulting from legal proceedings brought on by the government.
- The costs to notify individuals who have been affected by the breach.
- Costs related to hiring computer and legal experts.
- The cost to implement an improved computer system.
- Any costs related to ransom or responding to threats made to attack a computer system.
- Restoring data and recovering any information that may have been lost.
- Managing any negative publicity resulting from the breach.
- Loss of money or property resulting from a cyber attack or fraudulent money transfer.
- Loss of money or security resulting from one individual impersonating another.
- Loss of income resulting in business shut down.
- Expenses to restore business operations post-attack.loss of income resulting from negative publicity news of the attack is released to the public.
We understand how stressful a cyber attack can be. At Doherty Insurance, we are here to help ease you through the process and offer as much support and assistance as possible. No matter how big or small the cyber attack may be, there are several steps to take to help come to a resolution:
- Contact a Doherty Insurance claims specialist if you think you’re experiencing a cyber attack.
- A claims specialist will assess the situation and determine if computer forensics are needed and will outline the next steps for you and your business.
- A breach coach specializing in data privacy will be assigned to you and investigate the situation.We will connect you with the appropriate vendors who can help, such as a public relations firm, a credit monitoring service, and a call center vendor.
- We will continue to update you on any new developments and provide any and all the support we can to help you until the incident is resolved.
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