Risk & Business Magazine General Insurance Services Magazine | Page 6

CYBER LIABILITY INSURANCE All You Need To Know About Cyber Liability Insurance C yber liability insurance is essential for any business that stores information on a network. And in today’s digital age, that would include practically all businesses, both large and small. At one time, this type of insurance policy was only used by companies involved in the technology industry, such as those that offered network security. Today, cyber liability insurance (CLI) policies can help a much broader range of companies, from online retail stores to large financial 6 corporations and everything in between. This type of insurance can help protect businesses from security breaches and keep their customers’ personal information safe if there is ever a threat to their network. IMPORTANT FACTS ALL BUSINESS OWNERS SHOULD KNOW ABOUT CYBER LIABILITY INSURANCE Cyber liability insurance is designed for the modern digital age that we live in. It can provide protection for the new online risks that business owners face each day. There are also some policies that may help in risk areas outside of the internet and networking, such as brand reputation. Any company that deals with sensitive client information and stores these details on their hard drives should consider taking out a good cyber liability insurance policy. CYBER LIABILITY INSURANCE IS FOR BUSINESSES OF ANY SIZE Cyber liability insurance can be just as useful for that small business down the street as it is for that large corporation