In an age where a stolen laptop or hacked account can instantly compromise the personal data of thousands of customers, or an ill-advised post on a social media site can be read by hundreds in a matter of minutes, protecting yourself from cyber liability is just as important as some of the more traditional exposures businesses account for in their general commercial liability policies.
Possible exposures covered by a typical cyber liability policy may include the following:
- Data breaches
- Intellectual property rights
- Damages to a third-party system
- System failure
- Cyber extortion
- Business interruption
Cyber liability insurance is specifically designed to address the risks that come with using modern technology that other types of business liability coverage simply won’t. The level of coverage your business needs is based on your individual operations and can vary depending on your range of exposure.
It is important to work with a broker that can identify your areas of risk so a policy can be tailored to fit your unique situation. TPG Insurance Services is here to help you analyze your needs and make the right coverage decisions to protect your operations from unnecessary risk.