Why Should You Invest In Cyber Liability Cover? Here Are 5 Reasons

Over the course of the month we have highlighted the risks of not having Cyber Liability Insurance and various types of threats out there. Here is a summary of why you should invest in cover before it’s too late.

1.    It’s affordable
   Contrary to popular belief Cyber Liability Insurance is not something that only large companies can afford.  Your broker should be able to assess and compile a policy according to your budget and specific requirements.
2.     It provides comprehensive cover
   Policies cover a variety of expenses associated with data breaches, including the cost of notifying your clients credit monitoring defending claims by regulators managing reputation damage fines and penalties losses resulting from identity theft Policies can also cover the costs associated with business interruption, data loss/destruction, computer fraud, funds transfer loss, and cyber extortion.
3.  . You probably don’t have a risk management team
   Big corporations have entire departments to analyze risks and ensure that they are constantly implementing policies and procedures to protect themselves – we can do this for you.
4. . Data hosting outsourcing
   Even if you outsource the hosting of your data you are not off the hook because you can still be held liable

• 5z  General policies do not cover you
  General liability policies specifically exclude losses incurred through the use of the internet

Contact our expert brokers at CC&A Insurance and find out how you can protect yourself info@ccainsurance.co.za