These days, almost every business is on the web in some way which means that your company may be at risk for a lawsuit. According to the 2009 FBI Computer Crime and Security Survey, 71% of companies in America endangered their financial stability by not having cyber liability insurance. Here are a few scenarios for which your company can be held liable:
If you think that these claims will be included in your other insurance policies, you may want to read the fine print because rarely these crimes are covered by traditional insurance. Luckily, cyber liability insurance is modified to fit your company’s needs. On another excellent note, this insurance is affordable and definitely costs less than what a successful lawsuit could cost. With all of the information that is on the web and all of the hackers waiting to destroy your business, it is worth it to carry cyber liability insurance.