Cyber Liability
The Wright Place Insurance Agency
Cyber Liability
Cyber liability insurance is a developing product in the industry that has come into the limelight over the past few years. Harsher underwriting standards have been implemented by insurance carriers and other carriers are non-renewing clients because of lack of cyber security procedure in place. It is important to have an agent that has access to a variety of markets to ensure you are not out in the dark at renewal.
Typically Covers:
- Notification of affected individuals
- Public relations costs to restore reputational damage
- Data recovery services cost
- Damage to company software or hardware
- Financial loss due to business interruption
- Ransomware demands.
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