Cyber Liability in Oregon

Whether big or small, if your business uses the internet or computer software, this leaves you with the possibility of falling into the hands of cybercriminals. And since cyber-attacks can be costly, you need a safety net to run to when the worst happens.

Since all businesses are prone to malicious online activities, you need cyber liability insurance from Einstein Insurance of Oregon to protect your business. Otherwise, your business may be exposed financially when your online security is breached.

What is cyber liability insurance?

If you have been keen on news, you must have heard about high-profile hacking cases. Anyone with a digital footprint can be hacked from Pizza Hut, Uber, Facebook, to Deloitte. In light of this, investing in cyber liability insurance is the first line of defense to combating online attacks.

Cyber liability insurance safeguards your business from online threats. While this coverage doesn’t prevent cybercrimes from occurring, it cushions you financially when the unthinkable happens. Cyber liability insurance ensures that you don’t incur out-of-pocket expenses following data breaches and other cybercrime-related events.

What does cyber insurance cover?

If you are about to invest in cyber liability coverage, you will find out what it covers. Here is what this insurance covers.

• Notification costs: These are costs of notifying the parties who have been affected by the data breach.
• Loss of income: Compensates the business for the income lost due to shut down following a cyberattack.
• Data restoration: Covers the cost of restoring data, programs, or software after an online attack.
• Cyber extortion: It covers the ransom being asked by the hacker who threatens to commit a malicious act if their wish isn’t honored.
• Public relations costs: This covers the costs of managing the crisis, including hiring attorneys and public relations personnel to mitigate the loss.

Never think that your business is too small for cyber liability insurance. If you handle sensitive customer data or operate online, you are vulnerable to online attacks. Are you looking for cyber liability insurance to protect your Portland, OR business? Get in touch with Einstein Insurance today for all your insurance needs.