Covers direct expenses from a cyber incident, such as data recovery and business interruption costs.
Protects against claims by third parties affected by a cyber incident involving your business.
Assists in addressing a cyber incident with services like legal support, public relations, and notification costs (Insureon, Varonis).
Covers notification and legal costs, along with credit monitoring services for affected customers.
Assists in covering ransom payments and recovery costs.
Helps in covering legal fees and financial losses from a lawsuit by affected clients.
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It covers costs related to recovering from cyberattacks and data breaches.
Any business that stores sensitive data electronically, including small businesses.
Exclusions often include bodily injury/property damage claims, loss of property, and criminal activities.
The average cost is about $132 per month ($1,589 per year), but it varies based on several factors.
Yes, small businesses are often vulnerable and need this insurance.
Yes, it can cover ransom payments and related costs.
Yes, it covers legal expenses and settlements from lawsuits.
This varies by policy and may require specific coverage.
Immediately contact your insurance provider and follow their claims process.
Some policies may cover this, but it varies.
