Cyber liability insurance is becoming an essential part of doing business in the modern era. Hackers are getting smarter, and they have more sophisticated skills to circumvent your security system. You need to be prepared for this eventuality, or you could lose everything that you have worked so hard for over the years. Cyber liability coverage can provide financial protection against these types of situations – but it’s not something that should be put off until tomorrow!
What is cyber liability insurance?
Cyber liability insurance is a type of commercial insurance that you should have if your business has become dependent on cyber systems. These types of policies are designed to protect businesses against the financial cost associated with cyber risks, such as cyber-attacks and data breaches.
How can it benefit my business?
This coverage will safeguard your assets by covering cyber-related costs, such as cyber extortion and cyber security expenses. It can cover the associated damage to your business from these types of events – including lost income, data restoration services, forensics investigation fees, crisis management team support and more!
Who needs it?
Every company will have a different exposure profile when it comes to cyber risk – which is why cyber insurance policies need to be tailored to suit your needs. That said, cyber liability coverage can benefit any company that uses cyber systems or networks during their day-to-day operations.
What should I look for?
It’s important to work with an experienced broker like Oyer, Macoviak and Associates to help you find cyber liability policies that are suitable for your business. There are several factors to consider when it comes to cyber insurance, so having an expert by your side can be extremely beneficial!
What is the cost?
The cyber liability insurance market is still in its infancy, so companies can find affordable policies for cyber coverage. The premiums depend on the risk factors of your business – which means that price will vary depending upon the size and type of company you have.
What do I need?
Oyer Macoviak & Associates can help you determine the cyber liability coverage you need for your company. One of our experienced brokers can help you find the right cyber insurance policy to protect against cyber-related financial risks, such as cyber extortion and data breaches!
If you want to discuss options for cyber liability insurance coverage, please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.