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How a Cyber Risk Liability Insurance Policy Can Save Your Busienss

Cyber Risk Liability Insurance Coverage

As a business owner, the thought of dealing with a data breach can be enough to keep you up at night. Even if you own a small business with only a few clients, all of your secure information is still at risk from a cyber-attack. Protecting your business with the right cyber risk liability insurance policy can help to ensure that your business is not left financially devastated after a breach.

When you invest in a cyber risk liability insurance policy, you will receive comprehensive coverage, which will pay for many costs associated with a breach, including:

  • The cost to notify each client or employee that their personal information has been compromised through the breach.
  • The cost to hire a computer forensic expert who will work to figure out the existence, origin, and extent of the breach that occurred at your company.
  • The cost to hire and retain a crisis management or public relations team that will control any possible adverse media after the breach that could cause harm to your reputation.
  • The cost to provide identity theft restorations services for any customer or employee whose personal information was stolen.
  • The cost of any penalties or fines that are associated with the breach and levied against the insured by a government entity.
  • Recreate or restore any information that was stolen, damaged, or corrupted after a data breach at your company.
  • Replace any lost income if your business has to shut down or loses business after a data breach.

For all of your business insurance coverage needs and to ensure that you have the right amount of coverage, contact the insurance professionals at Humble & Davenport Insurance in Renton, Washington. We will work with you to ensure that your company has the protection that you deserve, all at the right price.