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In today's digital landscape, virtually every company that conducts business using technology faces the risk of a cyber incursion. As technology advances, so do the sophistication of criminal hackers and the threats they pose. Smart business owners recognize the importance of being prepared and protecting their businesses against cyber risks with the right insurance coverage.

Why Your Business Needs Cyber Liability Insurance

Dealing with a data breach can incur significant costs that extend beyond just strengthening security measures and repairing databases. Regulations require companies to notify customers when their personal and confidential data is compromised in a data breach. Standard business insurance may not adequately cover the costs associated with cybercrime damage, making cyber liability insurance essential.

Types of Cyber Liability Insurance Coverage

Cyber liability insurance offers various coverage options tailored to meet the specific needs of your business:

Distinct Insuring Agreements: This option allows companies to be covered at different levels for different risks, providing greater protection based on specific business needs.

Business Interruption Coverage: Traditional business interruption coverage may not include cybercrimes. This coverage helps cover expenses and lost revenue if a cyber incident impacts your business operations.

Third-Party and First-Party Coverage: Companies are responsible for safeguarding customers' personally identifiable information (PII) and protected health information (PHI). This coverage protects against liability to others and reimburses the company for expenses incurred due to a data breach.

Finding the Right Cyber Liability Coverage

To ensure your business is adequately protected against cyber risks, it's crucial to secure the right cyber liability coverage. Contact Eastern Insuring Agency in Plattsburgh, New York, to work with our local agent and tailor coverage specific to your business's unique risks and needs. Protect your business in the digital age with the right cyber liability insurance coverage.