Cyber Liability Insurance – Internet & Privacy Coverage
A more recent policy development is the Cyber Liability policy form which can be tailored to cover the first and third party risks associated with the internet, private information and digital assets. Like other professional and management liability forms, the Cyber policy is not an “industry standardized” policy form and needs to be tailored and negotiated appropriately for each New York enterprise seeking coverage.
Once considered a requirement of only technology companies, we believe that almost every New York business today has a Cyber Liability exposure, which is usually not covered by other liability or property forms a business may carry. With the extreme rise in hacking and network disruptions, where personal identifiable information can be stolen and digital assets copied, or disrupted this policy form is a must for just about every business with an internet connection.
What Does Cyber Liability Insurance Cover?
Primarily this coverage form will protect a business from liability and expenses arising from a breach of data security or a breach of data privacy, as well as first party loss of a company’s own digital assets. Here are several coverage aspects of the policy form:
- Denial of service attacks;
- Unauthorized access to data;
- Disclosure or release of confidential data;
- Loss of data or digital assets by a hacker, whether by accident or maliciously
- Introduction of a virus, Trojan horse, worm, or malicious code
- Cyber extortion
- Personal Injury arising from electronic content
- Compliance with regulatory requirements and costs associated with notification expenses and defense costs.
- Crisis management expenses
- Data or system restoration
- Business Interruption expenses resulting from data destruction, or hacking.
We Can Answer Cyber Liability Insurance Questions for Your New York Business
Since 1929, The Coyle Group has been serving New York businesses on Cyber Liability Insurancein the Rockland County communities of: New City, Nanuet, Haverstraw, Pearl River, Stony Point, Suffern, West Nyack, Congers, Valley Cottage, Nyack, Orangeburg, Blauvelt, Palisades, and Chestnut Ridge; the Orange County communities of: Goshen, Pine Bush, Middletown, Newburgh, New Windsor; the Westchester County communities of: White Plains, Yonkers, New Rochelle, Bedford, Elmsford. And in New York City – Manhattan, Bronx, and Brooklyn.
For more information on Cyber Liability Insurance coverage in New York, please contact us by calling 845-634-3606.