Torian Insurance offers comprehensive cyber liability insurance that can help protect your business from a wide range of cyber risks. Our policies offer broad coverage for both first and third-party losses, including costs associated with data recovery, legal defense, and public relations.
Businesses both small and large face costly risks associated with increasing cyber attacks. As technology become more prominent and complex, so do cyber crimes. If your business is the victim of a cyber attack, you could be financially liable for the damages. Cyber liability insurance can help to cover the costs of a data breach, like legal fees, damage to your reputation, and the cost of restoring lost data. It can also help to cover the costs of ransomware, like the ransom itself and the cost of hiring a cyber security expert to help you recover your data.
Cyber attacks can not only be financially burdensome, they can cost you your entire business. Protect your sensitive data, finances, and reputation with cyber liability insurance.
You can rest easy with Torian. As independent Insurance agents, we work for YOU, not the insurance companies! Our expert staff has your best interest at heart which means providing the best coverage.
Cyber liability insurance is a type of insurance designed to protect businesses from the financial and legal risks associated with cyberattacks, data breaches, and other cybersecurity incidents.
Cyber liability insurance is beneficial for businesses of all sizes, especially those that process or store customer data, such as payment information. Even if your company doesn’t currently store data, it is still important to consider cyber liability insurance in case of any future data breaches or incidents. Having cyber liability insurance can help protect companies from costly losses associated with a cyberattack and ensure they are financially prepared for any potential threats.
Cyber liability insurance covers the following:
Cyber liability insurance policies do not cover everything. Some exclusions may include:
The exact cost of cyber liability insurance will depend on the level of coverage desired and the risk profile of the organization in question. Factors such as industry, size, and data privacy requirements may also affect the cost.
Cyber liability insurance typically comes in two forms: first party coverage and third party coverage. First party coverage offers protection against losses such as data destruction, theft, or corruption; loss of revenue; or expenses associated with investigating and recovering from a data breach. Third party coverage protects organizations against claims arising from a breach involving third parties, such as customers or partners.
Some examples of cyberattacks that businesses are at risk for are:
While all businesses can benefit from cyber liability insurance those who handle medical information, credit card information, customer data, or personal identifying data cannot afford to not have it.
Some of the industries that are most frequently targeted include: