Cyber Liability Insurance
in West Des Moines, Urbandale and Throughout Iowa
Cyber insurance, also known as cyber liability insurance, can help your business recover from cyber-related risks or breaches. All businesses that use information technology can experience cyber threats. Data breaches, malware, ransomware attacks and email compromises are risks your business may face. Our agents at McCartan Insurance Group are ready to assist you with any coverage questions surrounding cyber insurance that you may have.
What Cyber Risks Does My Business Face?
Cyber risks exist no matter how safeguarded your business is. Your business faces the following cyber threats:
- Liability—You may be liable for costs incurred by customers and other third parties due to a cyber attack.
- System recovery—You may have to repair or replace computer systems or lost data, resulting in high costs.
- Notification expenses—In most states, you must notify customers if a data breach has occurred or is even just suspected. This can be pretty costly, especially if you have many customers.
- Regulatory fines—If a data breach results from your business’s failure to meet compliance requirements, you may incur substantial penalties.
- Class action lawsuits—Large-scale data breaches have led to class action lawsuits filed on behalf of customers whose data and privacy were compromised.
Aside from obtaining cyber liability insurance, you can reduce these risks by following a few basic precautions, including:
- Installing, maintaining and updating security software and hardware.
- Contracting with an IT security services vendor.
- Using cloud computing services.
- Regularly backing up data at a secure offsite location.
What Does Cyber Insurance Cover?
Cyber insurance can help protect your business against common risks your business may be vulnerable to, such as network security, privacy liability, network business interruption, media liability and error and omission. This includes both first- and third-party costs. Connect with an agent today to learn more about what coverage could offer your business.
Get Protected Today!
Your business will face cyber liability risks no matter the precautions put in place, so it’s essential to protect your business financially from cyber threats. Our McCartan Insurance Group agents are ready to assist you with coverage or any further questions you may have.