Insuring Your Business Against Cyber Liability

Insuring Your Business Against Cyber Liability

One survey found that 62% of small business executives are concerned about cybersecurity and IT risks. And yet, nearly 90% of small- and medium-sized businesses in the U.S. don't use data protection for company and customer information.¹

Business owners are also required to protect their customers’ personal information. In 47 states, and the District of Columbia, businesses are required to notify individuals of security breaches involving personally identifiable information.²

As evidenced by news of large-scale data breaches, online hacking has become another form of risk that businesses now face everyday. Like many risks, businesses can insure themselves against the financial damage a cyber-attack may inflict.

Cyber liability insurance may cover a range of risks, including

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