Main/Knoxville:  (865) 588-7000
Nashville:  (615) 557-4296
(800) 588-7001

What is Cyber Liability Insurance?


There's an adage by IT security professionals use that says, "either you have been data breached or you just do not know that you have been data breached."  Since over 72 percent of all data breaches occur in Small and Medium Businesses, the Advisors at William Blount & Associates want to ensure that our clients are aware of their potential risks and the options for coverage available. The typical business general liability insurance policy excludes web-related activities. This leaves businesses and customers unprotected against
 breaches and the claims that would be a result of the breach. Just about every organization that has a website and maintains a database of client information has real exposures to business loss.  

What does Cyber Liability insurance provide coverage for?

Cyber liability insurance is a specific type of policy that provides protection from a loss of customer or employee data from internet communication. Cyber Liability addresses the first and third party risks associated with e-business, the internet, networks, and informational assets.

Cyber Liability has protection for many different situations, such as:

Defamation   Public Relations Expense
 First Party Coverages: Cyber Extortion, Email breach, Loss of Digital Assets, Non-Physical Business Interruption Expenses, Cyber Terrorism, "Hacking"  Third Party Coverages: Network Security and Privacy Liability, Employee Privacy Liability, and Electronic Media Liability
 Administrative or operational Mistakes  Invasion of Privacy, ex: HIPAA, State, Federal, and foreign violations
 Notification of Breach expense  Errors & Omissions in content
 Infringement of domain name, copyright, trademark, slogan, service mark on the internet or intranet  Introduction of Malicious Code/Viruses

Who needs Cyber Liability?

As a businessowner, you should look into Cyber Liability if you have a website, blog, message board, or sell products online. It's also very important if you use email with your business ventures or if you use online merchant services to process payments- like Paypal.

If you would like more information or get a quote for Cyber Liability insurance, please one of our Advisors!




   
         Main Office:   9700 Westland Dr, Suite 102, Knoxville, TN 37922
Nashville Office:   c/o Industrious, 1033 Demonbreun St, Suite 300, Nashville, TN 37203
 
This website is intended to stimulate dialogue about your protection and does not alter or interpret your insurance policies. Always refer to your policy for details about your coverage.