Cyber-attacks on businesses of all sizes are becoming increasingly common. It’s hard to go a week without seeing news headlines of a large company experiencing a data breach. The liability associated with a data breach can sink a business quickly. Have you considered Carmel cyber liability insurance? Here are three important protections of such a policy.
1. Legal Counsel
A breach of your company’s data can land you in serious legal trouble with your clients when their sensitive personal data is compromised. You may require legal assistance in drafting notifications of the breach. Your legal team may also make recommendations about other actions you should take, such as setting up a call center to handle inquiries after breach notifications have gone out.
2. Information Technology Forensics
If you fall victim to a cyber-attack, you will likely incur IT forensics costs. IT forensics help determine the source and extent of a data breach.
3. Legal Claims
Depending on the extent of the damage to individuals whose personal data was compromised in your data breach, you may find yourself involved in lawsuits. These claims may be entirely valid as the compromised data sometimes leads to identity theft.
Carmel cyber liability insurance may cover many other losses incurred in a data breach and be designed to address your company’s unique exposures.