08/08/2025
CYBER INSURANCE AND WHY YOU NEED IT
The cost of a data breach and the reputational damage to a business after a breach occurs can be devastating. A well-designed cyber insurance policy will provide the protection needed and breach management expertise to ensure it is managed properly and by regulatory requirements.
Hacking incidents are the most common and expensive cause of data loss.
49% of the data breach causes are malicious and criminal attacks.
32% are system glitches, such as software updates, which inadvertently expose sensitive private files.
9% are from people making mistakes, such as losing laptops and flash drives
Cyber Liability coverage with good insurers may include:
Third-party liability for financial loss, mental anguish, mental distress, and any breach-related claims
First-party coverage for breach-related expenses
Primary limits available up to 20 million (higher limits available through excess)
For more info: [email protected] or (617) 676-7858
