Data breaches, ransomware, and other cyber incidents affect businesses of all sizes. Cyber insurance helps small businesses respond to incidents and cover costs that general liability and property policies do not.
Data breaches, ransomware, and other cyber incidents affect businesses of all sizes. Cyber insurance helps small businesses respond to incidents and cover costs that general liability and property policies do not.
Cyber policies often cover costs of responding to a breach (notifications, credit monitoring, forensics), ransomware payments (where permitted), business interruption from cyber events, and liability to customers or partners whose data was compromised. Coverage terms and limits vary by carrier and policy.
Any business that stores customer or employee data, relies on systems for daily operations, or accepts electronic payments has some cyber exposure. Small businesses are frequent targets because they often have weaker defenses.
Recovery from a breach or ransomware can be expensive. Cyber insurance can help pay for legal, forensic, notification, and restoration costs and may provide access to incident response services.
Generally no. General liability focuses on bodily injury and property damage. Data breaches and cyber incidents are typically excluded. A dedicated cyber policy is needed for that exposure.
Even limited data (e.g. names, emails, payment info) can trigger notification laws and claims. A cyber policy can be tailored to your size and exposure, often at reasonable cost for small businesses.
Need help finding the right commercial insurance coverage for your business? Request a quote and speak with True Shield Risk about your options.