Pennsylvania cyber liability insurance can help protect a company from a malicious external cyber-attack or an internal computer error that may result in the loss of company revenue. Here are three reasons why a company should have cyber liability insurance.
Policies can be crafted to cover different types of situations and companies of varying sizes. Because the concept of this type of policy is still pretty new, there can be a lot of room for negotiation.
It can keep your company in business
A Pennsylvania cyber liability insurance policy can help pay for a number of expenses that may result from cyber errors or a cyber-attack. Some examples include business interruption, the expense of informing customers, and the cost associated with engaging a PR firm to mitigate any damage inflicted on a company’s image. It can provide the funds to keep your company operating through a crisis.
You’re responsible for all your data
Even if a company’s website is externally hosted, or additional information is stored in the cloud, it is still legally responsible for any issues that may arise. It is impossible to completely control how an ISP, colocation company or cloud provider manages your data. A Pennsylvania cyber liability insurance policy can protect you if your vendors blow it.
A cyber insurance policy can help cover your company from many cyber related issues.