As technology becomes increasingly important for successful business operations, the value of a strong cyber-liability insurance policy will only continue to grow. The continued rise in information stored and transferred electronically has resulted in a remarkable increase in the potential exposures facing businesses.
In an age where a stolen laptop or hacked account can instantly compromise the personal data of thousands of customers, protecting yourself from cyber-liabilities is just as important as some of the more traditional exposures businesses account for in their general commercial liability policies.
Traditionally a commercial insurance policy is unlikely to protect against most cyber-exposures. Standard commercial policies are generally written to insure against injury or physical loss.
Possible exposures covered by a cyber-policy include data breaches, network interruption, system failures and cyber-extortion.
As reliance on technology continues to increase, new exposures continue to emerge. As your business grows, make sure your cyber-liability cover grows with it.
Addingstone is here to help you analyse your needs and make the right cover decisions to protect your operations from unnecessary risk. Contact us today on 0345 862 2727.