The online world changes every day, and the risk of a data breach increases exponentially with businesses doubling their data volume annually. In addition, as the Internet becomes more open source and cloud dependent, threats against your data and identity theft, no matter the size of your company, loom ominously. This, alongside the integration of social media initiatives via your website makes the threat of cyber risk very real.

To counter this risk, third party coverage is now available for data privacy and network security liability, Internet and electronic media liability, and professional services liability. Available too, is first-party business interruption coverage in the event of a network security breach; first-party cyber extortion coverage for threats against data and identity theft, and; intellectual property coverage for advertising and technology products.

Information sharing among Internet users via web-based communities such as social-networking sites has today become a real liability threat for many organizations, businesses and universities around the country. Seek professional guidance to ensure your business has a robust, technology-related insurance policy that goes beyond traditional business insurance.

© Copyright 2017. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.