As two of the largest hacks in history have hit just in this past year it’s evident that the need and demand for CyberInsurance has been increased. Both Sony and CitiBank, the two companies that have suffered greatly through the internet due to breaches in online security have called on insurance companies to help ease the pain, the pain that is a loss of millions of dollars.
Trying to avoid civil lawsuits and getting the customers the support they need in the event that there’s a cyber attack is something that is well worth the money invested into insurance. The increase of doing business on the internet also means an increase for the need of security. CyberInsurance is there as the last line of defense.
“Large customers are going to extremes, taking out coverage for data breach liabilities of as much as $200 million, while also taking $25 million deductibles to keep their premiums down.”
For more information regarding Cyber Insurance visit: Insurance Journal
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Contact me for any questions you may have regarding your insurance
Mike Spicer / 714-255-5650 / mike@allcountyins.com
