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Cyber-Liability

Cyber insurance is quickly becoming a “must have” coverage for a growing number of U.S. businesses, both large and small.

  • Nearly every company uses technology to collect and store data such as the personal information of employees and the credit card information of customers.
  • Forty seven states have specific laws requiring businesses to notify individuals of security breaches involving personally-identifiable information.
  • Required notification expenses following a suspected breach can be extensive and can include attorney fees, forensic investigation costs, call center services and credit monitoring.
  • Business accepting credit card payments have exposure to PCI fines, expenses and costs.
  • The use of websites and social media create exposures that are not covered by standard General Liability insurance.

Cyber insurance protects a business’ technology services or products, and can be written to protect both liability and property losses. Cyber insurance is highly recommended for businesses that buy or sell online, maintain customer or employee records either electronically or on paper, or otherwise depend on technology to keep the business running smoothly.

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In addition to the protection that comes with owning a Cyber policy, many Cyber policies also include access to a toll-free hotline for your use when a data breach is suspected. At no cost to you the hotline will connect you to a law firm with special expertise in the Cyber Liability field for specialized help and guidance.


As with most types of insurance various policies with unique coverage options are available so you can choose the policy that best fits you and your businesses as well as your budget. A good starting point is to take inventory of your cyber exposures and determine what kinds of incidents you want to be covered for. Here are some questions to consider before deciding:



  • Has your company technology ever been intruded? If so, how?

  • Is your company equipped to promptly detect an intrusion?

  • What kinds of information do you store?

  • What controls are in place to protect the confidential information you store?

  • What additional controls could you reasonably put in place?


Many types of events can trigger a Cyber Loss



  • Loss or theft of laptop computers

  • Loss of theft of paper records

  • E-mails containing confidential information are sent, either accidentally or intentionally

  • A hacker attacks and violates your system

  • Malware, worms or malicious computer codes are introduced


A Wide Range of Cyber Coverages are Available



  • Data breach liability

  • Privacy notification expenses

  • PCI fines, expenses and costs

  • Crisis management expenses

  • Loss of digital assets

  • Non-physical business interruption and extra expenses

  • Reward Expenses

  • Cyber extortion

  • Cyber terrorism

  • Network security liability including losses due to access denial


Hortica agents are here to help you choose the best Cyber coverage for your company no matter what your needs may be. Cyber incidents are becoming increasingly common and occur at businesses in every industry and of every size.