Cyber Liability Insurance provided by Browne Insurance Services

Your networks and data are the lifeblood of your business. From your brand reputation to employee and financial data, cyber attacks are increasing in their frequency and their intensity. Couple that with the need to comply with regulations like the GDPR and it can seem overwhelming. Our team is ready to customize the solutions that can keep your organization and all its information flowing smoother and safer.
What is Cyber Liability Insurance ?

Cyber liability insurance covers financial losses that result from data breaches and other cyber events. Policies vary widely because most insurers that offer cyber coverage use forms they’ve developed themselves. Many policies include both first-party and third-party coverages.

First-party coverages pay out-of-pocket expenses that a firm directly incurs as a result of a breach. Third-party coverages apply to damages or settlements a business is obligated to pay as a result of claims or suits for injuries that result from the company’s actions or failure to act. For instance, a client sues his therapist for negligence after a hacker breaches the therapist’s computer system, steals the client’s treatment records, and releases them online.

Many cyber policies provide a range of coverages, some of which are automatically included and others that are optional. A separate limit may apply to each coverage. Some coverages may apply only after the insured business has paid a deductible or a retention.

What is usually covered under Cyber Liability Insurance?
What is the Importance of Cyber Liability Insurance?

Any business with an online component or one that sends or stores electronic data might benefit from cyber insurance, as may any organisation that relies on technology to conduct its operations, which is pretty much every business.

Private personal data such as contact details of customers or staff, intellectual property, or sensitive financial data are all potentially very lucrative to cyber criminals who could could attempt to break into the network and steal it.

There’s also the potential for hackers to cripple a network with ransomware. A cyber insurance policy that covers ransomware could go a long way to helping organisations that fall victim to attacks like this find a way out of the predicament.

As cyber risks evolve, so too must your coverage. Understanding where traditional policies and other property and casualty insurance policies complement, overlap or exclude a cyber exposure is critical. Contact us today to know more!

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As an independent agency, Browne Insurance Services
Helps you find the right Cyber Liability Insurance Coverage
Contact Us
Palm Springs, CA
190 W Amado Rd Palm Springs, CA 92262
We extend coverage to individuals and businesses in Campbell, Palm Desert, Palm Springs, Pollock Pines, and Santa Clara areas.

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  • Crisis Management
  • Prior acts
  • Crime extortion
  • Error & Omission liability
  • Network security liability
  • Media coverage

Crisis Management coverage

Risk Factors

Cyber attack on your computers can be harmful and you would become liable for the losses & expenses incurred.

Solution

Depending on the policy, coverage may include the cost of hiring an attorney, forensic accountant, computer expert, or public relations expert to assess the scope of the damage, determine whose data was compromised, help mitigate the loss, and protect the company’s reputation.

Prior acts coverage

Risk Factors

There can be instances where a data breach occurs before your policy’s effective date and You fail to get coverage for the same.

Solution

Prior acts coverage can be taken to help cover claims related to a breach that happened before your policy’s effective date.

Crime extortion coverage

Risk Factors

A data hacker can steal your confidential data and ask for a ransom in return. You will be liable to pay the ransom from your pockets

Solution

This covers a ransom paid to a hacker who’s breached a company’s computer system and threatened to commit a nefarious act like damaging data, introducing a virus, initiating a DoS attack, or releasing confidential data unless the ransom is paid.

Error & Omission liability Coverage

Risk Factors

There can be instances where the cyber-attack caused due to negligence of an employee which results in data breach.

Solution

This covers claims against the business arising from negligent acts, errors, or omissions such as the failure to protect sensitive data, the failure to provide notification of a data breach, or the failure to prevent a security breach that results in a DoS attack or the introduction of a virus.

Media coverage

Risk Factors

There is a possibility that your business is sued for copyright or any alterations to someone else’s website where you become liable for lawsuits if any.

Solution

This coverage takes care of third party advertising injury claims which occur on the internet and includes IP infringement, copyright infringement, libel, slander and defacement of a website.

Media coverage

Risk Factors

There is a possibility that your business is sued for copyright or any alterations to someone else’s website where you become liable for lawsuits if any.

Solution

This coverage takes care of third party advertising injury claims which occur on the internet and includes IP infringement, copyright infringement, libel, slander and defacement of a website.

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