Cyber Liability Insurance
Cyber Liability Insurance Quote Forms
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Cyber Liability Insurance Information
L Squared offers Cyber, Privacy and Data Breach Insurance for Professionals. Cyber Coverage is usually broken down into 2 general categories, 1st and 3rd Party Coverage. Some of the features that these policies are covering are:
- 1st Party Coverage
- IT Forensics
- Notification & Call Center Costs
- Credit Protection & Crisis Management
- 3rd Party Coverage
- Liability due to breach of Personally Identifiable Information (PII)
- Negligent protection of data
- Network Security Breaches
- Transmission of Software Viruses
- Denial of Service Attacks
- Regulatory Actions related to a Breach
- PCI Fines and Penalties
- Multimedia (online content coverage)
- Cyber Extortion
- Cyber Business Interruption
- Hacker Damage
- Cyber Crime
The average costs associated with cyber insurance are all over the board with some carriers charging 1000% more than other carriers. Generally, for a small solo attorney or accountant, premiums are going to start around $125 for the year. Larger firms can expect to pay somewhere in the range of $2000-$10,000.
Many people think that their general liability or E&O policy will provide coverage for data breach, but often times these policies have no or little coverage for a critical event for a small or midsized firm. Don’t risk your business for a policy that can cost less than a Netflix subscription.
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