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Cyber Liability Insurance from GMG Insurance

Almost all organizations store personal data on employees or clients and communicate with individuals and other businesses via computer. If your cyber security is breached or your business transmits malicious code and causes financial losses to someone, you could be held liable for those costs.

A cyber liability insurance policy from GMG Insurance can help pay those damages and other expenses, such as those associated with notification and legal defense.

Your Exposure to Claims

The typical general liability insurance policy doesn’t include coverage for cyber errors or cyber crime. If your system is hacked and personal or financial data of employees or clients, or proprietary data of business partners, is stolen, you could face high damage awards or settlements plus legal defense bills, forensic investigation costs, notification and remediation expenses, and even public relations problems.

All of these can be addressed by a cyber liability policy. It can also protect your company against the costs generated by an accidental transmission of computer viruses or other malicious code that harms another party. If you accidentally release the private or financial information of others, even if it’s not stolen or used by anyone, you could be responsible for remediation costs the victims incur. Cyber liability insurance can be written to protect against such expenses.

Other Coverage Benefits

Many of our insurer partners provide crisis management under their cyber liability policies, including public relations services.

Some insurance companies also offer cyber security policies, which can help your business if a computer security problem shuts down your network, causes business income losses, or requires rebuilding your software or systems.

Whether you’re the victim or the accidental culprit of a cyber breach, GMG Insurance can help.

Turn to GMG Insurance for personalized attention on managing your assets and securing products that accommodate your lifestyle, now and as it changes over time. Contact us at (215) 497-9240; (800) 540-7900; or email at info@gmgins.com.