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Cyber liability cover protects you from the financial consequences of a data security breach and the damage to the brand that may result.
As data theft becomes an issue for almost every business, the need to put in place appropriate protective measures has become relevant to all. It is easy to overlook the potential long-term harm that a data breach can cause to a company’s reputation. While you can’t insure against damage to your reputation, you can put sensible measures in place to protect what is almost certainly your business’s most valuable asset.
If your business could suffer from any of the following then you should consider Cyber Liability cover:
Cyber liability will cover you for financial losses incurred as a result of hacking or loss of data and for legal costs related to mismanagement of customer data. The policy will cover the costs involved in both fixing the faults in your computers and IT systems as well as taking steps to repair any resulting damage to your company’s reputation.
Business owners will have the reassurance that if someone does hack into their computer systems they will be protected against the costs of repairing such a breach and its potentially enormous repercussions.