Serving Cedar Park, Austin, Georgetown and surrounding areas
Cyber attacks on businesses of all sizes and in every industry are on the rise. With the integrated use of technology in business, most business have some sort of cyber liability exposure. Cyber liability insurance is the solution to protect your business and customers from the detrimental impacts of a cyber attacks. Cyber attacks come in many forms including malware, denial-of-service (DoS) attacks, phishing, spoofing, identity-based attacks, code injection attacks, supply chain attacks, insider threats, DNS tunneling, IoT-based attacks and more.
Now is the time to review your current cyber liability coverage to ensure it is still meeting your business’ needs, or to get a cyber liability policy in place if you currently don’t have one.
Its easy to start the process… contact the office, and we’ll guide you to the right cyber policy for your business.
Benefits of Cyber Liability Insurance
1
Data Breach Coverage
In the event of a breach, organizations are required by law to notify affected parties. This can add to overall data breach costs, particularly as they relate to security fixes, identity theft protection for those impacted by the breach and protection from possible legal action. Cyber liability policies include coverage for these exposures, thus safeguarding your data from cyber criminals.
2
Business Interruption Loss Reimbursement
A cyber attack can lead to an IT failure that disrupts business operations, costing your organization both time and money. Cyber liability policies may cover your loss of income during these interruptions. What’s more, increased costs to your business operations in the aftermath of a cyber attack may also be covered.
3
Cyber Extortion Defense
Ransomware and similar malicious software are designed to steal and withhold key data from organizations until a steep fee is paid. As these types of attacks increase in frequency and severity, it’s critical that organizations seek cyber liability insurance, which can help recoup losses related to cyber extortion.
4
Forensic Support
Following a cyber attack, your organization will have to investigate to determine the extent of the breach and what led to it. The right policy can reimburse the insured for costs related to forensics and seeking out expert advice. Additionally, some polices can provide 24-7 support from cyber specialists, which is especially useful following a hack or data breach.
5
Legal Support
In the wake of a cyber incident, businesses often seek legal assistance. This assistance can be costly. Cyber liability insurance can help businesses afford proper legal work following a cyber attack.
6
Coverage Beyond A General Liability Policy
General liability policies don’t always protect organizations from losses related to data breaches. What’s more, data is generally worth far more than physical assets, and it’s important to have the right protection in place when you need it most. Supplementing your insurance with cyber coverage can provide you with peace of mind that, in event of an attack, your organization’s financial and reputational well-being is protected.
The Importance Of Cyber Insurance
What You Can Expect From Us
At Dowd Insurance Agency, we are adamant about creating the right insurance solution for each business. We take the time to get to know each client to fully understand their coverage needs and create a tailored policy to match. To learn more about our offerings for businesses, please contact us.
