Call Us 708.423.2350 ☰ ˟
Logo
Call Us Today 708.423.2350
  • Home
  • Get A Quote
    • Automobile
    • Boat
    • Business
    • Contractors
    • Flood
    • Health
    • Homeowners
    • Limousine
    • Motorcycle
    • Professional Liability
    • Recreational Vehicle
    • Renters
    • Trucking
  • Customer Service
    • Automobile
    • Business
    • General Liability
    • Motorcycle
    • Broker Services
  • Blog
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Important Files
    • Insurance Glossary
  • About Us
    • About Buschbach Insurance Agency, Inc.
    • Location
    • Career Opportunities
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
  • ProducerPointers
Home > Blog > Why Won’t General Liability Insurance Cover Cyber Breaches?
TUESDAY, DECEMBER 18, 2018

Why Won’t General Liability Insurance Cover Cyber Breaches?

Let’s say you come into work to find that hackers have struck your computers. They have stolen customer credit card data. This is a major exposure of private information, and your company must respond. Yet, when you turn to your liability insurance, you find that you don’timage of lady on computer with data floating have coverage. That’s because general liability policies usually won’t cover cyber losses. Why is this the case? What can you do instead?

For most cyber losses, you’ll need a insurance called cyber liability coverage. This is coverage that is more specific than a general liability policy. If computers are part of your business, don’t hesitate to add it to your coverage.

Doesn’t general liability insurance cover liabilities like this?

You probably realize that liability insurance covers the damage you cause to others. Because data exposures are damage to customer privacy, you might expect your commercial liability coverage to protect you. After all, the costs of cyber theft might prove massive expenditures. Thus, you’ll likely hope your insurance will help you pay for the damage.

However, not so fast.

Most general liability policies will only cover claims of bodily injury, property damage or advertising injury. The theft of data due to a hack will likely fall well outside the realm of this coverage, therefore. Indeed, many policies often exclude cyber losses from this line of coverage.

Only in a few cases will general liability policies cover cyber losses. For example, if computer damage results in losses, your policy might pay for data recovery. After all, the cause was property damage. Keep in mind, you might need a specialized data rider added to your coverage for these instances.

In cases involving simple virus or hack losses, you likely won’t have protection. For these case, you’ll probably need a cyber liability policy.

What’s Cyber Liability Insurance?

With cyber liability coverage, you’ll likely have much more protection for instances like data theft, ransomware, virus attacks and the like. Coverage might help you pay to:

  • Recover lost data and repair damaged computers
  • Notify customers of data theft and pay for identity theft monitoring
  • Cover regulatory fines and legal fees

Given the sensitivity of data lost, you’ll probably have to start an investigation. All of these processes might prove very expensive. Therefore, the help provided by your cyber liability coverage might be extremely helpful.

Talk to your insurance agent at 708.423.2350 about your use of private data within your business. Often, you might find cyber liability coverage very critical to your reputational management and solvency.

Posted 9:25 AM

Tags: cyber liability insurance, business insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013

  • insurance(169)
  • business insurance(145)
  • tips(99)
  • coverage(85)
  • safety(52)
  • oak lawn(50)
  • restaurant insurance(43)
  • savings(42)
  • illinois(41)
  • business(31)
  • commercial(27)
  • commercial auto insurance(22)
  • auto insurance(21)
  • chicago(20)
  • liability(19)
  • policy(18)
  • home insurance(18)
  • chicago il insurance(17)
  • bop(17)
  • protection(16)
  • workers compensation(14)
  • buschbach insurance agency(12)
  • general liability insurance(11)
  • owners(11)
  • cyber liability insurance(10)
  • business owners policy(10)
  • buschbach insurance(10)
  • trucking insurance(8)
  • risks(8)
  • restaurant(8)
  • general liability(7)
  • auto(7)
  • illinoise(7)
  • driving(7)
  • surety bonds(6)
  • construction insurance(6)
  • claims(6)
  • cyber(5)
  • workers(5)
  • vehicles(5)
  • employee(5)
  • compensation(5)
  • security(4)
  • car(4)
  • umbrella insurance(4)
  • events(4)
  • building(4)
  • liability insurance(4)
  • worth(4)
  • value(4)

View Mobile Version
buschbach logo

Physical address: 5615 W 95th St
Oak Lawn, IL 60453
Main Phone: 708.423. 2350
Email: sales@buschbach.com

 facebook Social Icon Social Icon Social Icon Social Icon
© Copyright. All rights reserved | Powered by Insurance Website Builder