Cyber liability insurance for small and mid-size businesses

Cyber liability insurance covers the costs of a data breach or cyber attack, including forensic investigation, customer notification, ransomware response, business interruption, and lawsuits or regulatory fines from compromised data. Washington’s data breach law requires businesses to notify affected residents, and in some cases the Attorney General, after certain breaches. Notification and investigation costs add up fast.

What cyber insurance typically covers

• Breach response: forensics, legal counsel, notification and credit monitoring
• Ransomware and cyber extortion
• Business interruption and data restoration
• Social engineering and funds transfer fraud (often a sub-limit)
• Liability to customers and third parties
• Regulatory defense and payment card industry assessments

Underwriting basics

Carriers increasingly ask about multi-factor authentication, backups, endpoint protection and employee training. Having these controls in place improves eligibility and pricing. We help you complete the application accurately so coverage holds up at claim time.