Cybersecurity Cyber Risk Insurance
The purpose of Cybersecurity Insurance or Cyber Risk Insurance is to help businesses with losses caused by many different types of cyber incidents. Cyber Security Insurance transfers some of the financial risk of a security breach to an insurance company. Such Cyber risks include data breaches, business interruption and damage to the network.
Many commercial general liability policies exclude cyber risks from coverage. Cyber insurance’s purpose is to protect against Internet-based risk that is related to information technology and information assets.
Even if the traditional commercial general liability policy does offer cyber risk coverage, coverage is normally very limited. This drives the need for businesses big and small to purchase a stand-alone cybersecurity insurance policy. These stand-alone cyber risk policies provide coverage/protection against a broad range of cyber incident losses that a business may incur or potentially cause to others.
Cyber Risk/ Cybersecurity Insurance is intended to help protect a company from loss derived from costs that coincide with data destruction, data theft, extortion demands, hacking, denial of service attacks, data breach related crisis management, defamation claims, online copyright trademark infringement, fraud, and even violations of privacy.
Contact Seaman’s Insurance Group today for your Cyber Insurance/ Cyber Risk needs! Seaman’s Insurance Group is St Augustine’s Premier Boutique Insurance Agency, proudly serving the First Coast, Jacksonville, Ponte Vedra Beach, St Augustine, Palm Coast & Beyond!