Uncategorized

Cyber Liability, What is it? Who is it for?

Cyber Liability, What is it? Who is it for?

Cyber Liability, What is it? Who is it for?

Just think how does your company store their employee/customer information? Nowadays almost every business is dependent on their electronic data, gone are the days of filing cabinets and paper. With most businesses relying on computers, servers, online and other mobile devices to store this vital information, it has become a fact of life that Cyber liability is now a key requirement for businesses today.

So how can your business help protect or better manage the risks associated with a data breach or cyber threat? Just like any other form of insurance such as fire, flood and theft, you can also get insurance for Cyber attacks. You may think ‘We have Business Interruption we don’t need cyber liability’. Business Interruption will not protect you if your systems fail due to a computer virus or cyber attack, meaning you can be held liable if you lose your clients data which may include their personal information.

You can get cover to include some or all of the following 

  1. Data liability, covering the financial consequences of losing customer data.
  2. PR costs, reducing the damage it could cause to your businesses reputation.
  3. Administrative obligations, this covers the potentially significant costs and expenses of a data protection regulators investigations and fines following any such breaches.
  4. Electronic data, allows for the costs of restoring, recollecting or recreating data after a breach.

Data breaches and losses can be a nightmare for any business, be it financially or for the company’s reputation. At Doyle Mahon Insurances we are here to help provide you with the right advice and an insurance policy that will help meet your needs.

Contact us today by phone 053 9123630 or email us on info@doylemahon.ie for further information and to discuss your insurance needs.

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