Data Breach Insurance
(Quotes, Cost & Coverage)

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Get data breach insurance quotes, cost & coverage fast. Cyber liability insurance helps cover the costs of a data security breach for with coverage like identity protection, public relations, legal fees, liability and more.

Cyber Liability Insurance

Data Breach Insurance ⋆ Quotes, Cost & Coverage

Technology is a valuable asset and offers a tremendous amount of benefits; however, there are certain aspects of technology that make it very worrisome. Data breaches and cyber attacks have become commonplace. It isn't just small companies that are subject to breaches and attacks; mega-corporations are susceptible to them, too.

Take the huge Equifax data breach that occurred in September of 2017 for example. During this breach, highly sensitive data was compromised, including social security and driver's license numbers, making it one of the worst breaches in history.

These types of situations highlight the importance of data breach insurance. Whether you own a local brick and motor business or you operate a Fortune 500 company, data breach insurance should be a top priority.

Who's Need Data Breach Insurance?

Data breach insurance (also known as cyber liability) is beneficial for any business that relies on technology to conduct operations. It will behoove any organization that does any of the following to invest in this type of coverage:

What Does Data Breach Insurance Cover?

When a data breach or cyber attack occurs, your business and the people it services are at risk of having sensitive information compromised. Personal identification numbers, social security numbers, birth dates, medical records, credit history, and various other types of important information can be stolen by whoever is being the attack. Several tragic things can occur as a result of a data breach or cyber attack; for example, identities can be stolen and credit can be destroyed.

Data breach insurance, also known as cyber liability insurance, aids in covering the costs of the issues that arise as a result of a breach in data security. For instance, this insurance can help to pay for identity protection solutions, legal fees, public relations, liability, and so much more.

From an insurance point of view, two different types of data breaches can occur: breaches that affect a business, and breaches that affect the clients of a business. There are two different types of insurance for these two different types of data breaches:

First Party Data Breach Insurance. This type of cyber liability coverage will help to pay for the costs of the losses a business faces when hit by a cyber attack or data breach. To be more specific, first party data breach insurance covers:

Third Party Data Breach Insurance. This type of cyber liability coverage assists with the costs that are associated with any lawsuits that may arise after a data breach has compromised the data of a business' clients. In more detail, third party insurance covers:

What Data Breach Insurance Doesn't Cover

Cyber liability insurance typically does not cover (excludes):

How Much Does Data Breach Insurance Cost?

How much does data breach insurance cost? The cost of this type of coverage varies depending on the type of data breach insurance you choose and the amount of coverage you opt for. Cyber liability insurance premiums are calculated on a company's industry, services, type of sensitive data stored or collected or processed, the total number of PII/PHI records, computer and network security, privacy policies and procedures and annual gross revenue, and more.

List Of Large Data Breaches

This list shows just some if the companies whose customer data was compromised in just 2016 and 2017 - it is hard to imagine how much damage the breach caused the companies, insurers and most important customers or account holders:

Get A Data Breach Insurance Quote

If you are a business owner and have any customer information on a computer, then you should invest in an cyber liability policy. A reputable insurance agent that specializes in data breach insurance will be able to help you find the most affordable policy that will meet all of your specific needs.

If you are looking for state specific Data Breach insurance quotes, costs and information: California Data Breach Insurance, Delaware Data Breach Insurance, Illinois Data Breach Insurance, Kentucky Data Breach Insurance, New Jersey Data Breach Insurance, New York Data Breach Insurance, Pennsylvania Data Breach Insurance, Texas Data Breach Insurance.

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