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Insights
Filtered by tag: Data Breach — View all
What is Cyber Liability Insurance?
Last week, I discussed statistics from a recent survey conducted by the Ponemon Institute. The study found, among other things, that a staggering 43% of companies have experienced a data breach in the past year. With statistics like this one, it is no surprise that insurance companies are now protecting businesses from the losses sustained in a breach by offering cyber liability insurance. The financial burdens, reporting obligations, and need to update or secure a system after a breach can be devastating for a business. Cyber liability policies can be integrated into current risk management programs to address what could be a potentially crippling cyber liability claim.
