The Importance of Cyber Insurance

Cyber threats can affect businesses of all sizes and industries. Cyber Insurance from Safe Insurance offers essential protection by covering:

1. Data Breach Response

• Notification Costs: Covers the costs of notifying affected individuals and stakeholders after a data breach.
• Credit Monitoring: Provides credit monitoring services to affected individuals to prevent identity theft and fraud.
• Public Relations: Covers the costs of managing public relations to mitigate reputational damage.

2. Legal Expenses

• Defense Costs: Covers legal defense costs if your business is sued as a result of a cyber incident.
• Settlements and Judgments: Provides coverage for settlements and judgments arising from lawsuits related to data breaches or cyber incidents.

3. Regulatory Fines and Penalties

• Compliance Violations: Covers fines and penalties imposed by regulatory bodies for non-compliance with data protection laws and regulations.

4. Cyber Extortion and Ransomware

• Ransom Payments: Provides coverage for ransom payments to cybercriminals in the event of a ransomware attack.
• Negotiation Costs: Covers the costs of professional negotiators to handle cyber extortion demands.

5. Business Interruption

• Lost Income: Covers the loss of income resulting from a cyber incident that disrupts your business operations.
• Extra Expenses: Provides coverage for additional expenses incurred to minimize the impact of a cyber incident.

6. Data Restoration

• Data Recovery: Covers the costs of restoring or recovering data lost or damaged due to a cyber incident.