If you are wondering whether you need cyber liability insurance, it is possible that you have some sort of exposure for cyber-related risks. Many business owners believe that they are either too small or that they are not in an industry, such as the health care or financial services, and therefore are not susceptible to an exposure.
Ashley Madison Lawsuit
Who would have thought that the owners of Ashley Madison, a website devoted to aiding extramarital relationships, would be in the middle of a cyber liability lawsuit? Lawsuits have been filed for $576 million in class action lawsuits against Ashley Madison owners due to a hacker group’s data breach, which obtained 39 million memberships in the adultery website this week.
Cyber liability lawsuits can affect a variety of businesses so be sure you are prepared.
How to Prepare Your Business
If you work with customers, store data, and/or keep information, it is a good idea to have a conversation with your insurance agent and ask what exposures you might have to this risk.
Cyber liability coverage can provide coverage for:
- – Security breaches
- – Defending lawsuits
- – Repairing reputational damages
- – Cost of research
- – Loss of income due to time spent on the lawsuit/claim
- – And more!
Contact Us Today
For more information on cyber liability insurance, contact Hatter, Williams & Purdy Insurance at:
- 760-795-2002 (Carlsbad office)
- 951-296-6833 (Temecula office)
We are here to help!