Cyber Liability Insurance

In 2023 alone, there were over 3,200 data breaches in the United States resulting in hundreds of millions of records exposed. Cyber liability insurance would cover the recovery cost for a business which has been breached. Cyber liability insurance also covers any legal claims that result from the breach. If your business stores information in any electronic device, then you need to get cyber liability insurance. Having cyber liability insurance is especially important for healthcare providers who see patients and store their personal data online. If your business falls victim to a cyber-attack, both your patients and any employee’s information stored electronically is vulnerable.

Network/Data Security, Cyber Liability Insurance

Different from cyber liability insurance, network/data security offers first-party coverage, rather than monetary coverage. Coverage for a network/data breach protects from liability claims arising from the theft, loss or accidental transmission of confidential patient or financial information, as well as data recovery. Included in network/data security coverage is, in case of a breach, affected parties will be provided access to credit monitoring and hotlines for assistance. The implementation of hotlines and monitoring will reduce the number of legal claims from affected parties. At JHS Insurance Services, LLC., we can assist you in securing network/data security coverage to protect your business.