Why Businesses Need Cyber Liability Insurance

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Cyber Liability insurance necessary for business owners to haveCreating a website is simple. The exposures that come with it are not. Companies that publish information made available to the general public via websites face the same legal exposures as publishers, yet most have little or no concept of their legal responsibilities. New legislation also creates potential liabilities, particularly in the areas of user privacy and domain name infringement.

Cyber Liability Insurance helps to address first and third-party risks associated with doing business on the internet. Different risk categories include privacy issues, infringement of intellectual property, virus transmission, or any other serious trouble the may be passed from first to third parties online.

Traditional liability products do not address internet exposures and the risks involved in doing business online. As part of our business owner’s policy, Farmers Insurance offers coverage for cyber liability insurance. With this endorsement on your business insurance policy, you can help protect your business from potential liability exposures such as information security & privacy liability, website media content liability, cyber extortion (ransomware), network business interruption, and data protection.

To learn more about cyber liability and other commercial insurance coverage, contact one of our licensed agents today.

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